Natixis Advisors LLC Increases Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Natixis Advisors LLC raised its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 16.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 492,113 shares of the construction company’s stock after buying an additional 67,798 shares during the quarter. Natixis Advisors LLC owned about 1.13% of Armstrong World Industries worth $64,678,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AWI. OneDigital Investment Advisors LLC boosted its stake in Armstrong World Industries by 4.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock worth $245,000 after purchasing an additional 76 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Armstrong World Industries by 2.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,206 shares of the construction company’s stock worth $1,341,000 after buying an additional 283 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Armstrong World Industries by 230.1% during the third quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock valued at $5,708,000 after buying an additional 30,273 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Armstrong World Industries in the 3rd quarter valued at $775,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Armstrong World Industries in the 3rd quarter valued at $26,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AWI shares. Loop Capital lifted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report 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 stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, 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 report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $153.28 on Friday. 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 capitalization of $6.68 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.96 and a beta of 1.13. The firm’s 50 day simple moving average is $137.42 and its 200-day simple moving average is $125.29. Armstrong World Industries, Inc. has a 12 month low of $81.47 and a 12 month high of $157.51.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. Analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.