Armstrong World Industries (NYSE:AWI) Cut 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 report published on Tuesday.

A number of other research firms have also recently issued reports on AWI. UBS Group lifted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital lifted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI lifted their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and an average price target of $148.00.

Armstrong World Industries Stock Down 0.7 %

Shares of NYSE AWI opened at $151.21 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries has a 52 week low of $110.68 and a 52 week high of $164.40. The stock has a market capitalization of $6.59 billion, a P/E ratio of 26.67, a PEG ratio of 1.60 and a beta of 1.19. The stock’s fifty day moving average is $147.86 and its 200 day moving average is $142.17.

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. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. During the same quarter last year, the business earned $1.22 earnings per share. Armstrong World Industries’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 20.40%.

Institutional Trading of Armstrong World Industries

Several hedge funds and other institutional investors have recently made changes to their positions in AWI. Transcendent Capital Group LLC bought a new stake in shares of Armstrong World Industries during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $32,000. Quent Capital LLC lifted its stake in shares of Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after acquiring an additional 170 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $33,000. Finally, Twin Tree Management LP acquired a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $43,000. 98.93% of the stock is currently owned by institutional investors.

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.