AdvisorNet Financial Inc grew its position in Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 142.4% during the second quarter, Holdings Channel reports. The firm owned 2,800 shares of the construction company's stock after acquiring an additional 1,645 shares during the period. AdvisorNet Financial Inc's holdings in Armstrong World Industries were worth $210,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Amalgamated Bank increased its holdings in shares of Armstrong World Industries by 3.6% in the first quarter. Amalgamated Bank now owns 9,635 shares of the construction company's stock valued at $867,000 after purchasing an additional 336 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Armstrong World Industries by 6.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 15,664 shares of the construction company's stock worth $1,410,000 after buying an additional 893 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Armstrong World Industries by 265.3% in the first quarter. Verition Fund Management LLC now owns 18,939 shares of the construction company's stock worth $1,705,000 after buying an additional 13,754 shares during the last quarter. Icon Advisers Inc. Co. boosted its stake in shares of Armstrong World Industries by 56.0% in the first quarter. Icon Advisers Inc. Co. now owns 74,900 shares of the construction company's stock worth $6,742,000 after buying an additional 26,900 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Armstrong World Industries by 8.3% in the first quarter. Capital World Investors now owns 1,100,350 shares of the construction company's stock worth $99,043,000 after buying an additional 84,500 shares during the last quarter.
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Analysts Set New Price Targets
A number of brokerages have recently commented on AWI. Loop Capital upgraded Armstrong World Industries from a "hold" rating to a "buy" rating and set a $95.00 target price on the stock in a research note on Wednesday, June 15th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft began coverage on Armstrong World Industries in a research note on Wednesday, August 17th. They issued a "buy" rating and a $125.00 target price on the stock. StockNews.com upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Wednesday. UBS Group lowered their price target on Armstrong World Industries from $86.00 to $82.00 and set a "sell" rating on the stock in a research report on Wednesday, July 27th. Finally, The Goldman Sachs Group upgraded Armstrong World Industries from a "neutral" rating to a "buy" rating and set a $93.00 price target on the stock in a research report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of "Moderate Buy" and a consensus target price of $112.80.
Armstrong World Industries Stock Performance
NYSE AWI opened at $82.58 on Wednesday. The company has a market cap of $3.83 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. The stock's 50 day simple moving average is $86.44 and its 200-day simple moving average is $85.67. Armstrong World Industries, Inc. has a 1-year low of $73.25 and a 1-year high of $118.14. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.66 and a quick ratio of 1.14.
Armstrong World Industries (NYSE:AWI – Get Rating) last released its earnings results on Tuesday, July 26th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.09). The firm had revenue of $321.00 million during the quarter, compared to analysts' expectations of $317.19 million. Armstrong World Industries had a net margin of 16.07% and a return on equity of 41.11%. The business's revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. As a group, equities research analysts anticipate that Armstrong World Industries, Inc. will post 5.15 EPS for the current fiscal year.
Armstrong World Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were given a $0.231 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Armstrong World Industries's dividend payout ratio (DPR) is presently 23.06%.
About Armstrong World Industries
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Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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