Commerce Bank acquired a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,023 shares of the construction company’s stock, valued at approximately $645,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of Armstrong World Industries by 571.7% in the 1st quarter. Millennium Management LLC now owns 117,696 shares of the construction company’s stock valued at $16,581,000 after buying an additional 100,175 shares during the period. Jones Financial Companies Lllp increased its position in Armstrong World Industries by 142.0% in the first quarter. Jones Financial Companies Lllp now owns 3,061 shares of the construction company’s stock worth $431,000 after purchasing an additional 1,796 shares during the period. Goldman Sachs Group Inc. raised its holdings in Armstrong World Industries by 63.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 125,181 shares of the construction company’s stock worth $17,636,000 after purchasing an additional 48,544 shares during the last quarter. Jane Street Group LLC raised its holdings in Armstrong World Industries by 144.2% during the 1st quarter. Jane Street Group LLC now owns 70,136 shares of the construction company’s stock worth $9,881,000 after purchasing an additional 41,417 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Armstrong World Industries during the 2nd quarter valued at about $291,000. Institutional investors and hedge funds own 98.93% of the company’s stock.
Armstrong World Industries Trading Down 0.9%
NYSE AWI opened at $178.25 on Thursday. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.75 and a beta of 1.16. The stock’s 50 day moving average price is $167.58 and its two-hundred day moving average price is $168.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.52. Armstrong World Industries, Inc. has a 52 week low of $150.28 and a 52 week high of $206.08.
Armstrong World Industries announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 21st that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Armstrong World Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were given a $0.339 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Armstrong World Industries’s dividend payout ratio (DPR) is 18.63%.
Analyst Ratings Changes
A number of analysts have commented on AWI shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $190.00 target price on shares of Armstrong World Industries in a report on Wednesday, July 29th. Weiss Ratings lowered Armstrong World Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. DA Davidson initiated coverage on Armstrong World Industries in a research note on Monday. They set a “buy” rating and a $215.00 price objective for the company. Finally, UBS Group reiterated a “neutral” rating and issued a $203.00 price objective on shares of Armstrong World Industries in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $213.25.
View Our Latest Stock Report on Armstrong World Industries
Armstrong World Industries 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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