Armstrong World Industries (NYSE:AWI) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a report released on Monday morning.

Several other research firms have also weighed in on AWI. Evercore ISI lifted their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an in-line rating in a report on Wednesday, July 31st. Truist Financial upped their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, UBS Group upped their price objective on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of Hold and an average target price of $135.75.

Armstrong World Industries Stock Performance

Shares of NYSE AWI opened at $118.60 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.97. Armstrong World Industries has a 12 month low of $68.35 and a 12 month high of $134.90. The company has a 50 day simple moving average of $118.37 and a two-hundred day simple moving average of $116.75. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.83 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.07. The firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 EPS. As a group, analysts predict that Armstrong World Industries will post 6.07 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio (DPR) is 21.05%.

Institutional Investors Weigh In On Armstrong World Industries

A number of hedge funds have recently modified their holdings of the business. Bridges Investment Management Inc. acquired a new stake in shares of Armstrong World Industries in the second quarter valued at about $331,000. Inspire Investing LLC raised its position in shares of Armstrong World Industries by 8.5% in the second quarter. Inspire Investing LLC now owns 3,118 shares of the construction company’s stock valued at $353,000 after buying an additional 243 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Armstrong World Industries by 1.5% in the second quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock valued at $130,389,000 after buying an additional 17,075 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Armstrong World Industries in the second quarter valued at about $291,000. Finally, Hsbc Holdings PLC raised its position in shares of Armstrong World Industries by 247.4% in the second quarter. Hsbc Holdings PLC now owns 11,405 shares of the construction company’s stock valued at $1,288,000 after buying an additional 8,122 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Company Profile

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.