Russell Investments Group Ltd. lowered its position in Armstrong World Industries Inc (NYSE:AWI) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,178 shares of the construction company’s stock after selling 26,076 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Armstrong World Industries worth $7,211,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Ropes Wealth Advisors LLC acquired a new position in Armstrong World Industries in the second quarter valued at $49,000. SRS Capital Advisors Inc. acquired a new position in Armstrong World Industries in the second quarter valued at $65,000. Machina Capital S.A.S. acquired a new position in Armstrong World Industries in the second quarter valued at $68,000. Rockefeller Capital Management L.P. acquired a new position in Armstrong World Industries in the first quarter valued at $167,000. Finally, Qtron Investments LLC acquired a new position in Armstrong World Industries in the first quarter valued at $203,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.
A number of research analysts recently weighed in on the company. Bank of America lifted their target price on Armstrong World Industries from $108.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. ValuEngine cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Deutsche Bank reiterated a “buy” rating and issued a $107.00 target price on shares of Armstrong World Industries in a report on Monday, June 24th. KeyCorp lifted their target price on Armstrong World Industries from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Finally, SunTrust Banks lifted their target price on Armstrong World Industries to $109.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $91.45.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, July 29th. The construction company reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.10. The company had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $278.75 million. Armstrong World Industries had a return on equity of 77.10% and a net margin of 20.17%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that Armstrong World Industries Inc will post 4.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Wednesday, August 7th. Armstrong World Industries’s dividend payout ratio is presently 19.13%.
About Armstrong World Industries
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in 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.
Featured Article: What is a CD ladder?
Want to see what other hedge funds are holding AWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Armstrong World Industries Inc (NYSE:AWI).
Receive News & Ratings for Armstrong World Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong World Industries and related companies with MarketBeat.com's FREE daily email newsletter.