AdvisorNet Financial Inc increases its position in Armstrong World Industries, Inc. (NYSE: AWI)


AdvisorNet Financial Inc. increased its stake in shares of Armstrong World Industries, Inc. (NYSE: AWIGet a rating) by 33.5% in the first quarter, Holdings Channel.com reports. The institutional investor held 1,155 shares of the construction company after purchasing an additional 290 shares during the quarter. AdvisorNet Financial Inc.’s holdings in Armstrong World Industries were worth $104,000 at the end of the most recent reporting period.

Several other institutional investors have also increased or reduced their stake in the company. LPL Financial LLC increased its position in shares of Armstrong World Industries by 1.0% during the third quarter. LPL Financial LLC now owns 14,577 shares of the construction company valued at $1,392,000 after acquiring 142 additional shares in the last quarter. Virtue Capital Management LLC increased its position in Armstrong World Industries shares by 1.3% during the fourth quarter. Virtue Capital Management LLC now owns 11,855 shares of the construction company valued at $1,377,000 after acquiring 153 additional shares in the last quarter. IndexIQ Advisors LLC increased its position in Armstrong World Industries shares by 36.0% during the 4th quarter. IndexIQ Advisors LLC now owns 616 shares of the construction company valued at $72,000 after acquiring 163 additional shares in the last quarter. Bank of Montreal Can increased its position in shares of Armstrong World Industries by 0.9% during the 4th quarter. Bank of Montreal Can now owns 22,100 shares of the construction company valued at $2,580,000 after acquiring 199 additional shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Armstrong World Industries shares by 3.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,765 shares of the construction company valued at $669,000 after acquiring 211 additional shares in the last quarter. 98.92% of the shares are held by institutional investors and hedge funds.

Shares of AWI opened at $75.86 on Friday. The stock has a market capitalization of $3.56 billion, a PE ratio of 18.87, a P/E/G ratio of 1.15 and a beta of 1.18. Armstrong World Industries, Inc. has a 1-year low of $73.25 and a 1-year high of $118.14. The company has a debt ratio of 1.17, a quick ratio of 1.11 and a current ratio of 1.65. The company’s 50-day simple moving average is $81.76 and its 200-day simple moving average is $92.66.

Armstrong Global Industries (NYSE: AWIGet a rating) last released its quarterly results on Tuesday, April 26. The construction company reported earnings per share (EPS) of $1.02 for the quarter, missing the consensus estimate of $1.13 per ($0.11). The company posted revenue of $282.60 million for the quarter, versus analyst estimates of $289.61 million. Armstrong World Industries had a return on equity of 40.89% and a net margin of 16.90%. The company’s revenue for the quarter increased by 12.2% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.84. On average, sell-side analysts expect Armstrong World Industries, Inc. to post earnings per share of 5.09 for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 19. Shareholders of record on Thursday, May 5 received a dividend of $0.231 per share. The ex-dividend date was Wednesday, May 4. This represents an annualized dividend of $0.92 and a dividend yield of 1.22%. Armstrong World Industries’ dividend payout ratio is currently 22.89%.

In other news, please Mark A. Hershey sold 1,365 shares in a trade dated Thursday, April 21. The shares were sold at an average price of $95.11, for a total transaction of $129,825.15. Following the sale, the senior vice president now owns 45,053 shares of the company, valued at $4,284,990.83. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. 1.80% of the shares are currently held by insiders.

Several brokerages have weighed in on AWI recently. TheStreet reduced shares of Armstrong World Industries from a “b-” rating to a “c+” rating in a Monday, March 21 research report. Jefferies Financial Group upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating and raised its price target for the company from $101.00 to $111.00 in a report of research from Monday, March 21. Truist Financial cut its price target on Armstrong World Industries shares from $124.00 to $110.00 in a Wednesday, April 27 research report. Loop Capital upgraded Armstrong World Industries shares from a “hold” rating to a “buy” rating and set a target price of $95.00 on the stock in a Wednesday, June 15 research report. They noted that the move was a review call. To finish, StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a Friday, April 8 research report. Two investment analysts have assigned the stock a sell rating, one has assigned a hold rating and six have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.38.

About Armstrong World Industries (Get a rating)

Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures and sells ceiling systems primarily for the construction and renovation of residential and commercial buildings in the United States, Canada and Latin America. The Company operates through Mineral Fiber and Architectural Specialties segments.

See also

Want to see which other hedge funds hold AWI? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Armstrong World Industries, Inc. (NYSE: AWIGet a rating).

Institutional ownership by quarter for Armstrong World Industries (NYSE: AWI)



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