Simplicity Wealth LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI – Free Report) during the second quarter, HoldingsChannel reports. The fund bought 2,801 shares of the construction company’s stock, valued at approximately $449,000.
Other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in shares of Armstrong World Industries in the 2nd quarter worth about $64,000. Bank of New York Mellon Corp purchased a new position in shares of Armstrong World Industries during the 2nd quarter valued at about $43,412,000. Focus Partners Advisor Solutions LLC bought a new stake in Armstrong World Industries in the 2nd quarter worth approximately $215,000. State of Wyoming bought a new stake in Armstrong World Industries in the 2nd quarter worth approximately $619,000. Finally, GSA Capital Partners LLP bought a new stake in Armstrong World Industries in the 2nd quarter worth approximately $618,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.
Armstrong World Industries Stock Performance
NYSE:AWI opened at $179.44 on Tuesday. The firm has a market cap of $7.58 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. Armstrong World Industries, Inc. has a fifty-two week low of $150.28 and a fifty-two week high of $206.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.52. The business has a 50 day moving average price of $164.30 and a 200-day moving average price of $169.32.
Armstrong World Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a $0.339 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 5th. Armstrong World Industries’s dividend payout ratio (DPR) is 18.63%.
Armstrong World Industries declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 21st that permits the company to buyback $800.00 million in shares. This buyback authorization permits the construction company to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AWI. Weiss Ratings cut shares of Armstrong World Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Bank of America cut their price objective on shares of Armstrong World Industries from $216.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 20th. UBS Group reaffirmed a “neutral” rating and set a $203.00 target price on shares of Armstrong World Industries in a report on Wednesday, July 29th. Evercore set a $200.00 target price on shares of Armstrong World Industries in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $190.00 target price on shares of Armstrong World Industries in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average price target of $213.00.
Read Our Latest Stock Report on AWI
About Armstrong World Industries
Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.
Armstrong’s product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.
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