Y Intercept Hong Kong Ltd Acquires Shares of 5,846 Armstrong World Industries, Inc. (NYSE:AWI)

Y Intercept Hong Kong Ltd acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,846 shares of the construction company’s stock, valued at approximately $768,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in Armstrong World Industries in the third quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in shares of Armstrong World Industries during the 3rd quarter worth approximately $31,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after acquiring an additional 89 shares during the period. Point72 DIFC Ltd bought a new position in shares of Armstrong World Industries in the 3rd quarter worth approximately $47,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of 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 purchasing an additional 125 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Trading Down 1.1 %

Shares of NYSE AWI opened at $153.65 on Friday. The firm’s 50 day moving average price is $148.73 and its 200-day moving average price is $131.03. Armstrong World Industries, Inc. has a 52-week low of $95.24 and a 52-week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market cap of $6.70 billion, a PE ratio of 27.10, a P/E/G ratio of 2.01 and a beta of 1.15.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same period in the prior year, the firm posted $1.60 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.308 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries’s payout ratio is 21.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AWI shares. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Evercore ISI increased their price target on shares of 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. Loop Capital boosted their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $140.83.

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.