Point72 Hong Kong Ltd Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Point72 Hong Kong Ltd purchased a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,289 shares of the construction company’s stock, valued at approximately $169,000.

Several other institutional investors have also bought and sold shares of the stock. Transcendent Capital Group LLC bought a new stake in Armstrong World Industries in the 3rd quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in shares of Armstrong World Industries in the third quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC increased its position in shares of Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after acquiring an additional 153 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

AWI opened at $159.14 on Tuesday. The firm has a 50-day moving average price of $143.79 and a 200-day moving average price of $128.29. Armstrong World Industries, Inc. has a twelve month low of $89.87 and a twelve month high of $164.40. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.04 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 EPS. Equities analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.77%. Armstrong World Industries’s dividend payout ratio is 21.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their target price 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 raised their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Loop Capital upped their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Company 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.