KLP Kapitalforvaltning AS Acquires 400 Shares of Armstrong World Industries, Inc. $AWI

KLP Kapitalforvaltning AS raised its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,200 shares of the construction company’s stock after acquiring an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Armstrong World Industries were worth $1,819,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AWI. Kayne Anderson Rudnick Investment Management LLC raised its position in Armstrong World Industries by 0.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company’s stock worth $188,615,000 after buying an additional 8,762 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Armstrong World Industries by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,282,996 shares of the construction company’s stock valued at $180,748,000 after purchasing an additional 84,195 shares during the period. Invesco Ltd. raised its stake in Armstrong World Industries by 34.0% during the 1st quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock valued at $95,886,000 after purchasing an additional 172,779 shares during the period. Alyeska Investment Group L.P. raised its stake in Armstrong World Industries by 9.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 583,000 shares of the construction company’s stock valued at $82,133,000 after purchasing an additional 50,398 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Armstrong World Industries by 131.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock valued at $62,060,000 after purchasing an additional 250,133 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AWI. Bank of America lifted their target price on Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Evercore ISI lifted their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 30th. UBS Group reaffirmed a “neutral” rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.14.

Armstrong World Industries Price Performance

Shares of AWI stock opened at $193.56 on Monday. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $201.72. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 1.94 and a beta of 1.45. The stock has a fifty day simple moving average of $194.97 and a two-hundred day simple moving average of $168.00. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The business had revenue of $325.00 million during the quarter. On average, analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries’s payout ratio is presently 18.20%.

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.