Simplicity Solutions LLC Boosts Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Simplicity Solutions LLC lifted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,923 shares of the construction company’s stock after buying an additional 245 shares during the quarter. Simplicity Solutions LLC’s holdings in Armstrong World Industries were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AWI. Price T Rowe Associates Inc. MD boosted its stake in shares of Armstrong World Industries by 649.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 678,011 shares of the construction company’s stock valued at $48,303,000 after buying an additional 587,484 shares in the last quarter. Jane Street Group LLC boosted its position in Armstrong World Industries by 103.1% during the fourth quarter. Jane Street Group LLC now owns 13,456 shares of the construction company’s stock worth $923,000 after purchasing an additional 450,050 shares in the last quarter. Norges Bank purchased a new stake in Armstrong World Industries during the fourth quarter worth $30,725,000. FMR LLC boosted its position in Armstrong World Industries by 25.9% during the third quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock worth $117,068,000 after purchasing an additional 334,065 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Armstrong World Industries by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 398,312 shares of the construction company’s stock worth $28,375,000 after purchasing an additional 330,646 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AWI shares. UBS Group upgraded Armstrong World Industries from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $75.00 to $103.00 in a research report on Thursday, January 4th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. The Goldman Sachs Group boosted their target price on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their target price on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.29.

Armstrong World Industries Stock Down 0.8 %

Shares of NYSE:AWI opened at $113.81 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. Armstrong World Industries, Inc. has a 52-week low of $62.03 and a 52-week high of $125.56. The stock’s fifty day simple moving average is $118.83 and its 200-day simple moving average is $98.70. The company has a market capitalization of $4.99 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.77 and a beta of 1.12.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The business had revenue of $312.30 million for the quarter, compared to the consensus estimate of $305.44 million. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were paid a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.98%. Armstrong World Industries’s payout ratio is currently 22.40%.

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.