Armstrong World Industries, Inc. (NYSE:AWI) Shares Acquired by Harvey Partners LLC

Harvey Partners LLC increased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,500 shares of the construction company’s stock after acquiring an additional 1,000 shares during the quarter. Armstrong World Industries accounts for about 3.4% of Harvey Partners LLC’s holdings, making the stock its 11th largest position. Harvey Partners LLC owned approximately 0.53% of Armstrong World Industries worth $30,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in Armstrong World Industries in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Armstrong World Industries in the third quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC boosted its stake in Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after buying an additional 89 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after purchasing an additional 153 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

AWI has been the subject of a number of research analyst reports. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Evercore ISI increased their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Loop Capital boosted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $159.14 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $143.79 and a 200-day moving average of $128.29. The firm has a market cap of $6.94 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.04 and a beta of 1.13. Armstrong World Industries, Inc. has a 1-year low of $89.87 and a 1-year high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same quarter last year, the business earned $1.60 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

Armstrong World Industries Company 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.