Sequoia Financial Advisors LLC Boosts Stake in Armstrong World Industries, Inc. $AWI

Sequoia Financial Advisors LLC grew its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 6,475 shares of the construction company’s stock after purchasing an additional 143 shares during the period. Sequoia Financial Advisors LLC’s holdings in Armstrong World Industries were worth $1,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AWI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Armstrong World Industries by 131.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock worth $62,060,000 after acquiring an additional 250,133 shares during the period. Invesco Ltd. grew its holdings in shares of Armstrong World Industries by 34.0% during the 1st quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock worth $95,886,000 after acquiring an additional 172,779 shares during the period. Nuveen LLC purchased a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $23,449,000. Global Alpha Capital Management Ltd. purchased a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $21,301,000. Finally, AQR Capital Management LLC grew its holdings in shares of Armstrong World Industries by 91.7% during the 1st quarter. AQR Capital Management LLC now owns 248,363 shares of the construction company’s stock worth $34,296,000 after acquiring an additional 118,830 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AWI shares. Bank of America upped their target price on Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Armstrong World Industries in a research note on Wednesday, October 8th. Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. UBS Group restated a “neutral” rating and issued a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Finally, Truist Financial upped their price target on Armstrong World Industries from $195.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.14.

Armstrong World Industries Trading Up 0.7%

Shares of NYSE:AWI opened at $199.40 on Friday. The stock’s 50-day simple moving average is $195.90 and its two-hundred day simple moving average is $169.63. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.98 and a beta of 1.45. Armstrong World Industries, Inc. has a 52-week low of $122.37 and a 52-week high of $202.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. The company had revenue of $325.00 million for the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. Analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 18.20%.

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.