Cerity Partners LLC Acquires New Shares in Armstrong World Industries, Inc. (NYSE:AWI)

Cerity Partners LLC bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,324 shares of the construction company’s stock, valued at approximately $622,000.

Several other large investors also recently bought and sold shares of AWI. HighTower Advisors LLC boosted its position in shares of Armstrong World Industries by 1.1% in the third quarter. HighTower Advisors LLC now owns 13,733 shares of the construction company’s stock worth $986,000 after acquiring an additional 143 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Armstrong World Industries by 3.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,291 shares of the construction company’s stock worth $309,000 after buying an additional 159 shares during the last quarter. Fox Run Management L.L.C. raised its position in shares of Armstrong World Industries by 1.8% in the 3rd quarter. Fox Run Management L.L.C. now owns 9,765 shares of the construction company’s stock worth $703,000 after buying an additional 175 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Armstrong World Industries by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 4,047 shares of the construction company’s stock valued at $291,000 after acquiring an additional 186 shares during the last quarter. Finally, Signaturefd LLC grew its position in Armstrong World Industries by 182.0% during the third quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 0.5 %

Shares of Armstrong World Industries stock opened at $115.96 on Thursday. The business has a 50-day moving average price of $119.66 and a 200 day moving average price of $100.14. Armstrong World Industries, Inc. has a fifty-two week low of $62.03 and a fifty-two week high of $125.56. The firm has a market cap of $5.08 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.76 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The business had revenue of $312.30 million during the quarter, compared to the consensus estimate of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.97%. Armstrong World Industries’s payout ratio is currently 22.40%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AWI. Truist Financial lifted their price target on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group raised Armstrong World Industries from a “sell” rating to a “neutral” rating and raised their price objective for the company from $75.00 to $103.00 in a research report on Thursday, January 4th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group raised their target price on Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.17.

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.