University of Texas Texas AM Investment Management Co. Buys Shares of 2,993 Armstrong World Industries, Inc. $AWI

University of Texas Texas AM Investment Management Co. acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,993 shares of the construction company’s stock, valued at approximately $486,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Armstrong World Industries by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock worth $283,000 after acquiring an additional 169 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Armstrong World Industries by 113.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company’s stock valued at $672,000 after acquiring an additional 2,538 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock valued at $39,000 after purchasing an additional 140 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Armstrong World Industries during the first quarter worth approximately $892,000. Finally, Illinois Municipal Retirement Fund raised its stake in Armstrong World Industries by 1.2% during the first quarter. Illinois Municipal Retirement Fund now owns 23,920 shares of the construction company’s stock worth $3,370,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AWI. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a “hold” rating in a report on Wednesday, July 30th. Zacks Research lowered Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Truist Financial lifted their price objective on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Vertical Research assumed coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They set a “buy” rating and a $238.00 target price for the company. Finally, Bank of America lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.25.

Armstrong World Industries Price Performance

AWI opened at $203.45 on Friday. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $205.97. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.04 and a beta of 1.45. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $196.79 and a 200 day simple moving average of $172.36.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. The firm had revenue of $325.00 million during the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be paid a dividend of $0.339 per share. This represents a $1.36 annualized dividend and a yield of 0.7%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, November 6th. Armstrong World Industries’s dividend payout ratio (DPR) is 18.20%.

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.