Fifth Third Wealth Advisors LLC Makes New Investment in Armstrong World Industries, Inc. $AWI

Fifth Third Wealth Advisors LLC acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,290 shares of the construction company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after purchasing an additional 140 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Armstrong World Industries by 28.9% in the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company’s stock valued at $75,000 after buying an additional 103 shares in the last quarter. Covestor Ltd raised its position in shares of Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company’s stock valued at $83,000 after buying an additional 170 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Armstrong World Industries in the 1st quarter valued at approximately $91,000. Finally, Archer Investment Corp acquired a new position in shares of Armstrong World Industries in the 1st quarter valued at approximately $113,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

AWI stock opened at $198.77 on Wednesday. The company has a 50 day simple moving average of $195.26 and a 200 day simple moving average of $168.61. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.96 and a beta of 1.45. Armstrong World Industries, Inc. has a 1 year low of $122.37 and a 1 year high of $201.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11.

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

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a 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%.

Analysts Set New Price Targets

AWI has been the subject of several analyst reports. Evercore ISI boosted their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Bank of America boosted their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Truist Financial boosted their target price on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, UBS Group restated a “neutral” rating and issued a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.14.

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.