Armstrong World Industries, Inc. $AWI Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 943,284 shares of the construction company’s stock after acquiring an additional 7,378 shares during the period. Geode Capital Management LLC owned about 2.18% of Armstrong World Industries worth $153,248,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AWI. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Armstrong World Industries by 0.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company’s stock worth $188,615,000 after acquiring an additional 8,762 shares during the last quarter. Burgundy Asset Management Ltd. boosted 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. increased its stake in shares of Armstrong World Industries by 34.0% in the first 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 holdings in shares of Armstrong World Industries by 9.5% during the first quarter. Alyeska Investment Group L.P. now owns 583,000 shares of the construction company’s stock valued at $82,133,000 after buying an additional 50,398 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Armstrong World Industries by 131.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock worth $62,060,000 after buying an additional 250,133 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Trading Up 0.1%

NYSE:AWI opened at $179.99 on Wednesday. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.87 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.52 and a debt-to-equity ratio of 0.47. Armstrong World Industries, Inc. has a 12 month low of $122.37 and a 12 month high of $206.08. The company’s 50 day moving average is $194.49 and its 200-day moving average is $179.03.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The company had revenue of $325.00 million during the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be given a $0.339 dividend. The ex-dividend date is Thursday, November 6th. This represents a $1.36 annualized dividend and a yield of 0.8%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s dividend payout ratio (DPR) is 19.31%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AWI. Wall Street Zen cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Truist Financial boosted their price target on shares of Armstrong World Industries from $195.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the company a “hold” rating in a research report on Wednesday, July 30th. Bank of America raised their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their target price on Armstrong World Industries from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.50.

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.