Merit Financial Group LLC Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Merit Financial Group LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,913 shares of the construction company’s stock, valued at approximately $410,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Armstrong World Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock worth $656,922,000 after buying an additional 34,579 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Armstrong World Industries by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after buying an additional 19,787 shares during the last quarter. Geode Capital Management LLC increased its holdings in Armstrong World Industries by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company’s stock worth $125,444,000 after buying an additional 35,738 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Armstrong World Industries by 140.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock worth $94,126,000 after buying an additional 389,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock worth $75,273,000 after buying an additional 387,537 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AWI. Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Loop Capital dropped their price objective on Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group increased their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Bank of America increased their price target on Armstrong World Industries from $162.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, UBS Group increased their price target on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries presently has an average rating of “Hold” and a consensus target price of $157.57.

Armstrong World Industries Trading Up 0.3%

Shares of AWI stock opened at $154.94 on Wednesday. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $146.24 and its two-hundred day moving average is $147.69. The company has a market cap of $6.73 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were paid a $0.308 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. Armstrong World Industries’s payout ratio is 19.68%.

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.