IHT Wealth Management LLC Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

IHT Wealth Management LLC bought a new position in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,710 shares of the construction company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AWI. CWM LLC boosted its holdings in shares of Armstrong World Industries by 17.3% in the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after purchasing an additional 95 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Armstrong World Industries in the 2nd quarter worth about $557,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Armstrong World Industries by 29.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,390 shares of the construction company’s stock valued at $724,000 after acquiring an additional 1,462 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Armstrong World Industries by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after acquiring an additional 33,290 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Armstrong World Industries by 16.4% during the 2nd quarter. Blue Trust Inc. now owns 1,349 shares of the construction company’s stock valued at $168,000 after acquiring an additional 190 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AWI has been the subject of several analyst reports. Evercore ISI increased their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Trading Down 0.9 %

AWI opened at $154.81 on Wednesday. The business has a 50 day simple moving average of $147.45 and a two-hundred day simple moving average of $130.42. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.02 and a beta of 1.15. 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 one year low of $92.29 and a one year high of $164.40.

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

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.308 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio 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.