State of Alaska Department of Revenue cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 44.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,409 shares of the construction company's stock after selling 10,127 shares during the quarter. State of Alaska Department of Revenue's holdings in Armstrong World Industries were worth $930,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Exane Derivatives acquired a new stake in shares of Armstrong World Industries during the 1st quarter worth approximately $39,000. AdvisorNet Financial Inc grew its stake in shares of Armstrong World Industries by 33.5% during the 1st quarter. AdvisorNet Financial Inc now owns 1,155 shares of the construction company's stock worth $104,000 after purchasing an additional 290 shares during the period. Covestor Ltd grew its stake in shares of Armstrong World Industries by 89.9% during the 1st quarter. Covestor Ltd now owns 1,272 shares of the construction company's stock worth $115,000 after purchasing an additional 602 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Armstrong World Industries during the 1st quarter worth approximately $178,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Armstrong World Industries during the 1st quarter worth approximately $200,000.
Get
Armstrong World Industries alerts:
Armstrong World Industries Trading Up 3.1 %
Shares of AWI opened at $80.72 on Thursday. Armstrong World Industries, Inc. has a 52-week low of $73.25 and a 52-week high of $118.14. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 1.25. The firm's fifty day moving average is $86.28 and its two-hundred day moving average is $85.31. The stock has a market cap of $3.74 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.25 and a beta of 1.23.
Armstrong World Industries (NYSE:AWI – Get Rating) last announced its earnings results on Tuesday, July 26th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $321.00 million for the quarter, compared to analyst estimates of $317.19 million. During the same period last year, the firm earned $1.16 EPS. The company's revenue for the quarter was up 14.6% compared to the same quarter last year. Research analysts forecast that Armstrong World Industries, Inc. will post 5.15 earnings per share for the current fiscal year.
Armstrong World Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were issued a dividend of $0.231 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. Armstrong World Industries's dividend payout ratio is presently 23.06%.
Analysts Set New Price Targets
AWI has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Armstrong World Industries from $86.00 to $82.00 and set a "sell" rating on the stock in a research note on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Armstrong World Industries in a research note on Wednesday, August 17th. They issued a "buy" rating and a $125.00 price target on the stock. The Goldman Sachs Group raised shares of Armstrong World Industries from a "neutral" rating to a "buy" rating and set a $93.00 price target on the stock in a research note on Wednesday, July 13th. Loop Capital raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating and set a $95.00 price target on the stock in a research note on Wednesday, June 15th. They noted that the move was a valuation call. Finally, StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $112.80.
About Armstrong World Industries
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Armstrong World Industries (AWI)
- A Trio of Q3 Winners With Room to Run
- This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
- Can HCA Healthcare Weather the Normalization?
- Can United Natural Foods Fight Both Inflation and the Fed?
- Mullen Automotive Is Ready To Get In Gear
Want to see what other hedge funds are holding AWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Armstrong World Industries, Inc. (NYSE:AWI – Get Rating).
Receive News & Ratings for Armstrong World Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong World Industries and related companies with MarketBeat.com's FREE daily email newsletter.
