Redwood Investment Management LLC Purchases Shares of 12,082 Armstrong World Industries, Inc. (NYSE:AWI)

Redwood Investment Management LLC bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,082 shares of the construction company’s stock, valued at approximately $1,501,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AWI. Headlands Technologies LLC acquired a new stake in shares of Armstrong World Industries during the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth $27,000. UMB Bank n.a. lifted its position in Armstrong World Industries by 67.3% during the first quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC bought a new stake in Armstrong World Industries during the fourth quarter worth about $49,000. Finally, YHB Investment Advisors Inc. bought a new stake in Armstrong World Industries during the first quarter worth about $52,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 0.0 %

NYSE AWI traded up $0.01 during mid-day trading on Thursday, reaching $131.41. 32,970 shares of the stock were exchanged, compared to its average volume of 344,066. Armstrong World Industries, Inc. has a one year low of $68.35 and a one year high of $134.90. The stock has a 50 day simple moving average of $117.40 and a 200-day simple moving average of $115.32. The stock has a market cap of $5.75 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.22.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $360.36 million. During the same period in the previous year, the firm posted $1.38 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Armstrong World Industries, Inc. will post 6.08 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group increased their price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Evercore ISI increased their price target on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.75.

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.