Oppenheimer Asset Management Inc. Has $1.34 Million Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Oppenheimer Asset Management Inc. increased its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 2.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,206 shares of the construction company’s stock after purchasing an additional 283 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Armstrong World Industries were worth $1,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AWI. Allspring Global Investments Holdings LLC acquired a new stake in Armstrong World Industries in the first quarter valued at $27,000. Sei Investments Co. grew its holdings in Armstrong World Industries by 185.3% during the first quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock worth $6,489,000 after purchasing an additional 33,927 shares during the period. Acadian Asset Management LLC bought a new stake in Armstrong World Industries in the first quarter valued at approximately $96,000. Edgestream Partners L.P. acquired a new stake in shares of Armstrong World Industries in the first quarter valued at approximately $1,421,000. Finally, Covestor Ltd boosted its stake in shares of Armstrong World Industries by 20.4% during the 1st quarter. Covestor Ltd now owns 596 shares of the construction company’s stock worth $74,000 after acquiring an additional 101 shares during the period. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AWI shares. Loop Capital raised 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 report on Wednesday, October 30th. Truist Financial boosted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Armstrong World Industries has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Up 0.0 %

NYSE AWI opened at $153.28 on Monday. The business has a fifty day moving average price of $137.42 and a two-hundred day moving average price of $125.37. The stock has a market capitalization of $6.68 billion, a PE ratio of 27.03, a PEG ratio of 1.96 and a beta of 1.13. Armstrong World Industries, Inc. has a fifty-two week low of $81.47 and a fifty-two week high of $157.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $386.69 million. During the same period in the prior year, the company earned $1.60 EPS. Armstrong World Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. Armstrong World Industries’s payout ratio is 21.69%.

Armstrong World Industries 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.