Northwestern Mutual Wealth Management Co. bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,742 shares of the construction company’s stock, valued at approximately $1,242,000.
Several other large investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new position in Armstrong World Industries during the 2nd quarter valued at about $2,862,000. Ieq Capital LLC acquired a new position in Armstrong World Industries in the second quarter valued at about $6,191,000. Callan Family Office LLC bought a new stake in Armstrong World Industries during the second quarter worth about $1,917,000. Allworth Financial LP bought a new stake in Armstrong World Industries during the second quarter worth about $129,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Armstrong World Industries during the second quarter worth approximately $1,715,000. Institutional investors own 98.93% of the company’s stock.
Armstrong World Industries Price Performance
Shares of AWI stock opened at $179.97 on Wednesday. Armstrong World Industries, Inc. has a 1 year low of $150.28 and a 1 year high of $206.08. The company has a current ratio of 1.52, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $167.09 and its 200-day moving average is $169.01. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.73 and a beta of 1.16.
Armstrong World Industries announced that its board has authorized a share repurchase program on Tuesday, July 21st that permits the company to buyback $800.00 million in shares. This buyback authorization permits the construction company to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Armstrong World Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a $0.339 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 5th. Armstrong World Industries’s dividend payout ratio (DPR) is 18.63%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on AWI shares. Jefferies Financial Group reiterated a “hold” rating and issued a $190.00 target price on shares of Armstrong World Industries in a research note on Wednesday, July 29th. Weiss Ratings lowered Armstrong World Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Evercore set a $200.00 price target on Armstrong World Industries in a report on Tuesday, April 28th. DA Davidson began coverage on Armstrong World Industries in a research report on Monday. They issued a “buy” rating and a $215.00 price objective for the company. Finally, UBS Group reissued a “neutral” rating and issued a $203.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.25.
Check Out Our Latest Analysis on AWI
Armstrong World Industries Company Profile
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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