Armstrong World Industries (NYSE:AWI) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Several other brokerages have also recently commented on AWI. Evercore ISI boosted 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, July 31st. UBS Group upped their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price target on Armstrong World Industries from $131.00 to $148.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $135.75.

Armstrong World Industries Stock Up 2.5 %

NYSE:AWI opened at $122.65 on Monday. The stock has a 50-day simple moving average of $118.73 and a 200 day simple moving average of $116.97. Armstrong World Industries has a 52-week low of $68.35 and a 52-week high of $134.90. The company has a market cap of $5.37 billion, a PE ratio of 23.05, a PEG ratio of 1.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.22 and a current ratio of 1.76.

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

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.12 annualized dividend and a yield of 0.91%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.05%.

Institutional Trading of Armstrong World Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors lifted its holdings in Armstrong World Industries by 1.3% during the 4th quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock valued at $491,551,000 after purchasing an additional 63,618 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Armstrong World Industries by 12.2% during the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock worth $468,315,000 after buying an additional 517,699 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after buying an additional 569,824 shares during the last quarter. Cooke & Bieler LP raised its holdings in Armstrong World Industries by 10.2% in the 4th quarter. Cooke & Bieler LP now owns 1,316,653 shares of the construction company’s stock valued at $129,453,000 after acquiring an additional 121,586 shares during the period. Finally, Burgundy Asset Management Ltd. raised its holdings in Armstrong World Industries by 1.5% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock valued at $130,389,000 after acquiring an additional 17,075 shares during the period. Institutional investors own 98.93% of the company’s stock.

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.