KLP Kapitalforvaltning AS Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

KLP Kapitalforvaltning AS acquired a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,500 shares of the construction company’s stock, valued at approximately $1,908,000.

A number of other hedge funds have also recently modified their holdings of the business. ORG Wealth Partners LLC purchased a new position in Armstrong World Industries during the 4th quarter valued at about $32,000. Quent Capital LLC increased its stake in shares of Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after purchasing an additional 170 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Armstrong World Industries during the fourth quarter valued at approximately $33,000. Twin Tree Management LP bought a new stake in shares of Armstrong World Industries in the 4th quarter worth approximately $43,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $47,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

AWI has been the subject of a number of recent research reports. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Truist Financial raised their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, UBS Group upped their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Price Performance

NYSE AWI opened at $144.33 on Friday. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The stock has a 50-day moving average of $148.46 and a 200 day moving average of $145.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.60 and a beta of 1.25.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. During the same period in the previous year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a yield of 0.85%. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Armstrong World Industries Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.