Livforsakringsbolaget Skandia Omsesidigt Acquires 6,300 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 38.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,600 shares of the construction company’s stock after buying an additional 6,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.05% of Armstrong World Industries worth $2,970,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Armstrong World Industries during the 1st quarter worth $27,000. UMB Bank n.a. lifted its stake in shares of Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after acquiring an additional 153 shares during the period. First Horizon Advisors Inc. boosted its holdings in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after acquiring an additional 125 shares during the last quarter. Covestor Ltd increased its position in Armstrong World Industries by 20.4% in the first quarter. Covestor Ltd now owns 596 shares of the construction company’s stock worth $74,000 after purchasing an additional 101 shares during the period. Finally, GAMMA Investing LLC increased its position in Armstrong World Industries by 25.3% in the first quarter. GAMMA Investing LLC now owns 620 shares of the construction company’s stock worth $77,000 after purchasing an additional 125 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Performance

AWI opened at $136.26 on Friday. The business’s 50-day simple moving average is $126.54 and its 200 day simple moving average is $120.79. Armstrong World Industries, Inc. has a 52-week low of $68.35 and a 52-week high of $136.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The firm has a market capitalization of $5.95 billion, a PE ratio of 24.86, a PEG ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. During the same period in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s payout ratio is currently 20.44%.

Analysts Set New Price Targets

AWI has been the topic of several recent research reports. Evercore ISI raised their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Jefferies Financial Group increased their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday. UBS Group lifted their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial increased their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

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.