HighTower Advisors LLC Acquires 8,763 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

HighTower Advisors LLC lifted its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 55.7% in the 4th quarter, HoldingsChannel reports. The fund owned 24,493 shares of the construction company’s stock after purchasing an additional 8,763 shares during the period. HighTower Advisors LLC’s holdings in Armstrong World Industries were worth $3,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AWI. Wealthfront Advisers LLC bought a new stake in Armstrong World Industries in the 4th quarter worth about $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Armstrong World Industries by 3.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,488 shares of the construction company’s stock valued at $1,482,000 after acquiring an additional 368 shares during the last quarter. Inceptionr LLC boosted its stake in Armstrong World Industries by 55.1% in the fourth quarter. Inceptionr LLC now owns 9,827 shares of the construction company’s stock valued at $1,389,000 after acquiring an additional 3,492 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Armstrong World Industries in the fourth quarter valued at about $8,375,000. Finally, Arizona State Retirement System boosted its stake in Armstrong World Industries by 0.7% in the fourth quarter. Arizona State Retirement System now owns 12,683 shares of the construction company’s stock valued at $1,792,000 after acquiring an additional 82 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $141.25 on Friday. The company’s fifty day moving average price is $148.55 and its 200-day moving average price is $144.44. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a one year low of $110.68 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.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. UBS Group boosted their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Truist Financial upped their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $153.33.

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.