AlTi Global Inc. Makes New Investment in Armstrong World Industries, Inc. $AWI

AlTi Global Inc. acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 20,538 shares of the construction company’s stock, valued at approximately $3,336,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock valued at $39,000 after buying an additional 140 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Armstrong World Industries by 28.9% in the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company’s stock worth $75,000 after buying an additional 103 shares during the period. Covestor Ltd grew its position in shares of Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company’s stock worth $83,000 after buying an additional 170 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Armstrong World Industries during the 1st quarter valued at about $91,000. Finally, Archer Investment Corp purchased a new stake in Armstrong World Industries during the 1st quarter valued at about $113,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on AWI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Armstrong World Industries in a report on Wednesday, October 8th. UBS Group restated a “neutral” rating and set a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Evercore ISI lifted their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. Wall Street Zen lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Finally, Bank of America raised their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average target price of $202.25.

Armstrong World Industries Stock Performance

AWI opened at $203.14 on Friday. Armstrong World Industries, Inc. has a 52-week low of $122.37 and a 52-week high of $205.97. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.79 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.02 and a beta of 1.45. The firm’s 50-day moving average price is $196.59 and its 200-day moving average price is $171.51.

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

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be issued a $0.339 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, November 6th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s payout ratio is 18.20%.

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.