Gates Capital Management Inc. boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 39.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,244,821 shares of the construction company's stock after acquiring an additional 354,499 shares during the quarter. Armstrong World Industries accounts for 3.4% of Gates Capital Management Inc.'s holdings, making the stock its 19th largest position. Gates Capital Management Inc. owned approximately 2.65% of Armstrong World Industries worth $112,046,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Armstrong World Industries by 0.7% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,882,039 shares of the construction company's stock valued at $218,543,000 after buying an additional 12,540 shares in the last quarter. Cantillon Capital Management LLC lifted its holdings in Armstrong World Industries by 47.6% during the first quarter. Cantillon Capital Management LLC now owns 1,785,922 shares of the construction company's stock valued at $160,750,000 after purchasing an additional 575,715 shares in the last quarter. River Road Asset Management LLC raised its position in shares of Armstrong World Industries by 23.3% in the first quarter. River Road Asset Management LLC now owns 1,441,119 shares of the construction company's stock valued at $129,715,000 after buying an additional 271,878 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Armstrong World Industries by 29.7% in the first quarter. Cooke & Bieler LP now owns 1,331,092 shares of the construction company's stock valued at $119,812,000 after buying an additional 304,922 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Armstrong World Industries by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 1,319,822 shares of the construction company's stock valued at $118,796,000 after buying an additional 118,587 shares during the last quarter.
Get Armstrong World Industries alerts:Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Armstrong World Industries from a "neutral" rating to a "buy" rating and set a $93.00 price objective for the company in a research report on Wednesday, July 13th. StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, August 23rd. Loop Capital upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a research report on Wednesday, June 15th. They noted that the move was a valuation call. UBS Group dropped their price target on shares of Armstrong World Industries from $86.00 to $82.00 and set a "sell" rating for the company in a research report on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Armstrong World Industries in a research report on Wednesday, August 17th. They set a "buy" rating and a $125.00 price target for the company. Two equities research 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.80.
Armstrong World Industries Stock Up 0.9 %
Shares of NYSE AWI traded up $0.78 during midday trading on Friday, hitting $86.99. The company's stock had a trading volume of 295,387 shares, compared to its average volume of 186,061. Armstrong World Industries, Inc. has a 1 year low of $73.25 and a 1 year high of $118.14. The business's fifty day simple moving average is $85.46 and its two-hundred day simple moving average is $85.90. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.66 and a quick ratio of 1.14. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.Armstrong World Industries (NYSE:AWI – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.09). Armstrong World Industries had a return on equity of 41.11% and a net margin of 16.07%. The firm had revenue of $321.00 million during the quarter, compared to analysts' expectations of $317.19 million. During the same quarter in the prior year, the firm earned $1.16 EPS. The firm's revenue was up 14.6% compared to the same quarter last year. On average, equities analysts predict that Armstrong World Industries, Inc. will post 5.15 EPS for the current year.
Armstrong World Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Investors of record on Thursday, August 4th were given a $0.231 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 1.06%. Armstrong World Industries's dividend payout ratio (DPR) is presently 23.06%.
Armstrong World Industries Profile
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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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