Armstrong World Industries (NYSE:AWI) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a report published on Sunday morning.

Several other analysts have also recently issued reports on AWI. Truist Financial upped their price objective on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. UBS Group upped their price objective on Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America raised their price target on Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on Armstrong World Industries from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.50.

Armstrong World Industries Trading Down 0.2%

NYSE:AWI opened at $190.78 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.52. Armstrong World Industries has a one year low of $122.37 and a one year high of $206.08. The business’s 50-day simple moving average is $196.74 and its 200 day simple moving average is $174.98. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.45.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. Armstrong World Industries had a return on equity of 38.97% and a net margin of 19.08%.The firm had revenue of $325.00 million for the quarter. As a group, sell-side analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a $0.339 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.7%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, November 6th. Armstrong World Industries’s payout ratio is 19.31%.

Institutional Trading of Armstrong World Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in Armstrong World Industries by 0.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company’s stock valued at $188,615,000 after purchasing an additional 8,762 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in Armstrong World Industries by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 1,321,078 shares of the construction company’s stock valued at $214,596,000 after purchasing an additional 38,082 shares during the last quarter. Geode Capital Management LLC boosted its position in Armstrong World Industries by 0.8% during the second quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company’s stock valued at $153,248,000 after purchasing an additional 7,378 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Armstrong World Industries by 121.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company’s stock valued at $119,718,000 after purchasing an additional 404,000 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Armstrong World Industries by 0.3% during the second quarter. Invesco Ltd. now owns 682,445 shares of the construction company’s stock valued at $110,856,000 after purchasing an additional 1,823 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.