Ieq Capital LLC Invests $502,000 in Armstrong World Industries, Inc. (NYSE:AWI)

Ieq Capital LLC bought a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,549 shares of the construction company’s stock, valued at approximately $502,000.

Several other large investors also recently bought and sold shares of AWI. Natixis Advisors LLC grew its stake in Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after acquiring an additional 67,798 shares in the last quarter. State Street Corp grew its stake in Armstrong World Industries by 3.7% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its stake in Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after acquiring an additional 34,028 shares in the last quarter. Bank of Montreal Can grew its stake in Armstrong World Industries by 166.2% during the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock valued at $6,417,000 after acquiring an additional 30,570 shares in the last quarter. Finally, Victory Capital Management Inc. grew 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 valued at $5,708,000 after acquiring an additional 30,273 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $151.95 on Thursday. The firm has a 50 day simple moving average of $147.68 and a 200-day simple moving average of $142.11. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. During the same period in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

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 issued a $0.308 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.81%. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AWI. Loop Capital upped their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, UBS Group increased their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $145.40.

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.