Quest Partners LLC Increases Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Quest Partners LLC boosted its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 32.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,971 shares of the construction company’s stock after purchasing an additional 4,945 shares during the period. Quest Partners LLC’s holdings in Armstrong World Industries were worth $2,625,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Armstrong World Industries during the 3rd quarter worth approximately $26,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Armstrong World Industries in the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $31,000. First Horizon Advisors Inc. grew its stake in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after buying an additional 125 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AWI. Jefferies Financial Group upped their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price objective on 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. UBS Group upped their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial upped their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

NYSE AWI opened at $153.28 on Monday. The business’s fifty day moving average price is $137.42 and its 200-day moving average price is $125.37. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.96 and a beta of 1.13. 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, Inc. has a 1-year low of $81.47 and a 1-year high of $157.51.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same period last year, the firm earned $1.60 EPS. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.308 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 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.