Point72 DIFC Ltd Invests $47,000 in Armstrong World Industries, Inc. (NYSE:AWI)

Point72 DIFC Ltd purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, Holdings Channel reports. The institutional investor purchased 355 shares of the construction company’s stock, valued at approximately $47,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial raised their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised 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. Loop Capital upped their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Trading Down 1.0 %

Shares of NYSE:AWI opened at $156.22 on Tuesday. The company’s 50-day moving average price is $147.04 and its two-hundred day moving average price is $130.15. Armstrong World Industries, Inc. has a one year low of $92.29 and a one year high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The stock has a market capitalization of $6.81 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 earnings per share. On average, equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced 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 represents a $1.23 dividend on an annualized basis and a yield of 0.79%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is presently 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.