StockNews.com Begins Coverage on Armstrong World Industries (NYSE:AWI)

StockNews.com began coverage on shares of Armstrong World Industries (NYSE:AWI – Get Rating) in a report released on Thursday. The firm issued a hold rating on the construction company’s stock.

AWI has been the subject of a number of other research reports. Zelman & Associates lowered Armstrong World Industries from a buy rating to a hold rating in a research note on Wednesday, December 21st. The Goldman Sachs Group cut their price target on Armstrong World Industries from $97.00 to $86.00 and set a buy rating for the company in a research note on Thursday, January 12th. Deutsche Bank Aktiengesellschaft cut their price target on Armstrong World Industries from $99.00 to $91.00 and set a buy rating for the company in a research note on Monday, February 27th. Loop Capital downgraded shares of Armstrong World Industries from a buy rating to a hold rating and dropped their price objective for the company from $98.00 to $75.00 in a report on Thursday, January 5th. Finally, Truist Financial dropped their price objective on shares of Armstrong World Industries from $95.00 to $90.00 and set a buy rating for the company in a report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of Hold and a consensus target price of $85.00.

Armstrong World Industries Trading Down 2.4 %

NYSE:AWI opened at $68.02 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14. Armstrong World Industries has a one year low of $66.86 and a one year high of $96.51. The business has a fifty day moving average price of $76.55 and a 200-day moving average price of $76.85.

Armstrong World Industries (NYSE:AWI – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The construction company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Armstrong World Industries had a return on equity of 41.59% and a net margin of 16.45%. The business had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $298.81 million. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Armstrong World Industries will post 4.88 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Thursday, March 2nd were issued a $0.254 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, March 1st. Armstrong World Industries’s payout ratio is 23.34%.

Insider Activity at Armstrong World Industries

In related news, CEO Victor Grizzle sold 25,689 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $68.83, for a total value of $1,768,173.87. Following the completion of the transaction, the chief executive officer now owns 332,435 shares of the company’s stock, valued at approximately $22,881,501.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Victor Grizzle sold 25,689 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $68.83, for a total value of $1,768,173.87. Following the completion of the transaction, the chief executive officer now owns 332,435 shares of the company’s stock, valued at approximately $22,881,501.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark A. Hershey sold 6,835 shares of the stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $80.14, for a total transaction of $547,756.90. Following the completion of the transaction, the senior vice president now directly owns 38,218 shares of the company’s stock, valued at approximately $3,062,790.52. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Trading of Armstrong World Industries

Several institutional investors have recently added to or reduced their stakes in AWI. American Century Companies Inc. lifted its stake in Armstrong World Industries by 28.9% in the first quarter. American Century Companies Inc. now owns 8,825 shares of the construction company’s stock worth $794,000 after purchasing an additional 1,980 shares during the last quarter. HighTower Advisors LLC lifted its stake in Armstrong World Industries by 7.3% in the first quarter. HighTower Advisors LLC now owns 13,988 shares of the construction company’s stock worth $1,262,000 after purchasing an additional 950 shares during the last quarter. Private Advisor Group LLC lifted its stake in Armstrong World Industries by 7.5% in the first quarter. Private Advisor Group LLC now owns 3,949 shares of the construction company’s stock worth $355,000 after purchasing an additional 275 shares during the last quarter. Bank of Montreal Can lifted its stake in Armstrong World Industries by 32.0% in the first quarter. Bank of Montreal Can now owns 29,164 shares of the construction company’s stock worth $2,723,000 after purchasing an additional 7,064 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in Armstrong World Industries in the first quarter worth about $178,000.

About Armstrong World Industries

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Armstrong World Industries, Inc engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Mineral Fiber, Architectural Specialties, and Unallocated Corporate. The Mineral Fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings.