Wealth Alliance Acquires Shares of 2,388 Armstrong World Industries, Inc. (NYSE:AWI)

Wealth Alliance acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,388 shares of the construction company’s stock, valued at approximately $235,000.

Several other large investors also recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new position in shares of Armstrong World Industries during the 3rd quarter valued at approximately $1,630,000. State of Alaska Department of Revenue boosted its stake in shares of Armstrong World Industries by 211.3% during the 4th quarter. State of Alaska Department of Revenue now owns 40,042 shares of the construction company’s stock valued at $3,936,000 after buying an additional 27,179 shares during the last quarter. Barclays PLC boosted its stake in shares of Armstrong World Industries by 42.2% during the 3rd quarter. Barclays PLC now owns 24,225 shares of the construction company’s stock valued at $1,743,000 after buying an additional 7,186 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Armstrong World Industries during the 3rd quarter valued at approximately $244,000. Finally, Oak Thistle LLC boosted its stake in shares of Armstrong World Industries by 43.0% during the 4th quarter. Oak Thistle LLC now owns 5,190 shares of the construction company’s stock valued at $510,000 after buying an additional 1,560 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 0.8 %

Shares of AWI stock opened at $113.81 on Friday. The stock’s 50 day simple moving average is $118.83 and its 200 day simple moving average is $98.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.61. Armstrong World Industries, Inc. has a twelve month low of $62.03 and a twelve month high of $125.56. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.77 and a beta of 1.12.

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

Armstrong World Industries Dividend Announcement

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

Analyst Ratings Changes

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

About Armstrong World Industries

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.