Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Armstrong World Industries, Inc. (NYSE:AWI)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,329 shares of the construction company’s stock after purchasing an additional 1,932 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Armstrong World Industries were worth $917,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AWI. HighTower Advisors LLC grew its holdings in Armstrong World Industries by 1.1% in the third quarter. HighTower Advisors LLC now owns 13,733 shares of the construction company’s stock valued at $986,000 after purchasing an additional 143 shares during the period. O Shaughnessy Asset Management LLC grew its position in Armstrong World Industries by 3.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,291 shares of the construction company’s stock valued at $309,000 after acquiring an additional 159 shares during the period. Fox Run Management L.L.C. increased its stake in Armstrong World Industries by 1.8% during the third quarter. Fox Run Management L.L.C. now owns 9,765 shares of the construction company’s stock worth $703,000 after acquiring an additional 175 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Armstrong World Industries by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,047 shares of the construction company’s stock worth $291,000 after purchasing an additional 186 shares during the period. Finally, Simplicity Solutions LLC lifted its stake in shares of Armstrong World Industries by 5.2% in the 4th quarter. Simplicity Solutions LLC now owns 4,923 shares of the construction company’s stock valued at $484,000 after purchasing an additional 245 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AWI has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group upgraded Armstrong World Industries from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $75.00 to $103.00 in a report on Thursday, January 4th. Truist Financial boosted their target price on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, March 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.60.

Armstrong World Industries Stock Up 1.1 %

NYSE AWI opened at $116.98 on Monday. The stock has a market cap of $5.12 billion, a PE ratio of 23.40, a P/E/G ratio of 1.79 and a beta of 1.12. Armstrong World Industries, Inc. has a fifty-two week low of $62.03 and a fifty-two week high of $125.56. The business has a 50 day moving average price of $120.09 and a two-hundred day moving average price of $100.95. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. Armstrong World Industries’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. As a group, sell-side analysts predict that Armstrong World Industries, Inc. will post 5.74 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 22.40%.

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.