Armstrong World Industries (NYSE:AWI) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a report issued on Tuesday.

AWI has been the topic of several other reports. Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. UBS Group increased their target price 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. Loop Capital increased their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, 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, October 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Trading Up 1.9 %

AWI stock opened at $145.69 on Tuesday. The company has a market capitalization of $6.35 billion, a PE ratio of 25.69, a P/E/G ratio of 2.01 and a beta of 1.18. Armstrong World Industries has a 12 month low of $96.69 and a 12 month high of $164.40. The firm’s 50-day moving average is $150.89 and its 200 day moving average is $135.57. 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 (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 EPS. On average, research analysts anticipate that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were 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 dividend yield of 0.85%. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.69%.

Institutional Trading of Armstrong World Industries

A number of institutional investors have recently modified their holdings of AWI. Squarepoint Ops LLC boosted its holdings in shares of Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after buying an additional 79,475 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Armstrong World Industries by 27.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after purchasing an additional 67,954 shares in the last quarter. Natixis Advisors LLC boosted its stake in Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares in the last quarter. State Street Corp boosted its stake in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after purchasing an additional 51,839 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Armstrong World Industries by 252.5% in the 2nd quarter. Millennium Management LLC now owns 55,078 shares of the construction company’s stock worth $6,237,000 after purchasing an additional 39,452 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

About Armstrong World Industries

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.