Commerce Bank grew its holdings in Armstrong World Industries Inc (NYSE:AWI) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,679 shares of the construction company’s stock after purchasing an additional 242 shares during the period. Commerce Bank owned about 0.16% of Armstrong World Industries worth $6,090,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Armstrong World Industries in the fourth quarter worth approximately $61,583,000. Point72 Asset Management L.P. bought a new stake in shares of Armstrong World Industries in the fourth quarter valued at approximately $26,250,000. Capital International Investors boosted its position in shares of Armstrong World Industries by 3.0% in the fourth quarter. Capital International Investors now owns 4,017,420 shares of the construction company’s stock valued at $377,517,000 after acquiring an additional 117,105 shares during the period. Jennison Associates LLC raised its stake in shares of Armstrong World Industries by 114.5% in the fourth quarter. Jennison Associates LLC now owns 206,435 shares of the construction company’s stock valued at $19,399,000 after purchasing an additional 110,201 shares in the last quarter. Finally, FIL Ltd raised its stake in shares of Armstrong World Industries by 14.4% in the fourth quarter. FIL Ltd now owns 801,134 shares of the construction company’s stock valued at $75,283,000 after purchasing an additional 101,134 shares in the last quarter.
A number of brokerages recently commented on AWI. ValuEngine upgraded Armstrong World Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. SunTrust Banks dropped their price objective on Armstrong World Industries from $100.00 to $95.00 in a research note on Tuesday, April 28th. Nomura Securities increased their price objective on Armstrong World Industries from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. TheStreet lowered Armstrong World Industries from a “b” rating to a “c” rating in a research note on Tuesday, April 28th. Finally, Loop Capital upgraded Armstrong World Industries from a “sell” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $83.00 in a research note on Tuesday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $102.20.
Shares of NYSE:AWI opened at $71.31 on Friday. Armstrong World Industries Inc has a twelve month low of $62.03 and a twelve month high of $111.46. The firm has a market cap of $3.46 billion, a PE ratio of -60.43, a price-to-earnings-growth ratio of 5.05 and a beta of 1.23. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.63 and a current ratio of 2.03. The business has a fifty day moving average of $75.32 and a 200-day moving average of $90.76.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $248.70 million during the quarter, compared to the consensus estimate of $250.69 million. Armstrong World Industries had a negative net margin of 4.86% and a positive return on equity of 71.34%. Armstrong World Industries’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. On average, analysts anticipate that Armstrong World Industries Inc will post 4.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.12%. The ex-dividend date was Wednesday, May 6th. Armstrong World Industries’s dividend payout ratio is 16.74%.
Armstrong World Industries Profile
Armstrong World Industries, Inc 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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