Quantbot Technologies LP Purchases 3,569 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Quantbot Technologies LP grew its position in Armstrong World Industries, Inc. (NYSE:AWI) by 196.1% in the third quarter, HoldingsChannel.com reports. The firm owned 5,389 shares of the construction company’s stock after acquiring an additional 3,569 shares during the period. Quantbot Technologies LP’s holdings in Armstrong World Industries were worth $708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its stake in shares of Armstrong World Industries by 4.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after buying an additional 76 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Armstrong World Industries by 5.9% in the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock valued at $188,000 after acquiring an additional 79 shares in the last quarter. US Bancorp DE lifted its holdings in Armstrong World Industries by 13.9% in the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock worth $88,000 after purchasing an additional 82 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after buying an additional 89 shares in the last quarter. Finally, CWM LLC raised its position in shares of Armstrong World Industries by 17.3% during the second quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after buying an additional 95 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

Shares of AWI stock opened at $159.14 on Tuesday. 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 company’s 50-day simple moving average is $143.79 and its two-hundred day simple moving average is $128.29. The company has a market capitalization of $6.94 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.04 and a beta of 1.13. Armstrong World Industries, Inc. has a one year low of $89.87 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, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. As a group, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business 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 annualized dividend and a yield of 0.77%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is 21.69%.

Wall Street Analysts Forecast Growth

AWI has been the subject of several research analyst reports. Evercore ISI raised their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial boosted their target price 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 price target 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, Loop Capital lifted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and an average price target of $140.83.

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.