Proficio Capital Partners LLC Invests $4.14 Million in Armstrong World Industries, Inc. (NYSE:AWI)

Proficio Capital Partners LLC purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 29,255 shares of the construction company’s stock, valued at approximately $4,135,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in Armstrong World Industries by 3.7% in the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after acquiring an additional 51,839 shares during the period. Geode Capital Management LLC raised its position in shares of Armstrong World Industries by 4.2% during the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Armstrong World Industries by 11.0% during the 4th quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company’s stock valued at $43,914,000 after purchasing an additional 30,878 shares in the last quarter. Bank of Montreal Can grew its position in shares of Armstrong World Industries by 166.2% in the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock valued at $6,417,000 after purchasing an additional 30,570 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Armstrong World Industries by 230.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock worth $5,708,000 after purchasing an additional 30,273 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 0.9 %

Shares of AWI stock opened at $141.50 on Tuesday. The firm’s fifty day moving average price is $148.56 and its two-hundred day moving average price is $144.37. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $164.40. The firm has a market capitalization of $6.15 billion, a P/E ratio of 24.96, a PEG ratio of 1.60 and a beta of 1.25.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. During the same quarter in the previous year, the business earned $1.22 earnings per share. Armstrong World Industries’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Analyst Ratings Changes

Several research firms have recently weighed in on AWI. Truist Financial upped their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. UBS Group upped their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.33.

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.