Armstrong World Industries, Inc. (NYSE:AWI) Stake Increased by MML Investors Services LLC

MML Investors Services LLC grew its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 10.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,537 shares of the construction company’s stock after purchasing an additional 2,339 shares during the period. MML Investors Services LLC’s holdings in Armstrong World Industries were worth $3,356,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. OneDigital Investment Advisors LLC raised its holdings in shares of Armstrong World Industries by 4.3% during the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock worth $245,000 after acquiring an additional 76 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Armstrong World Industries by 5.9% during the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock worth $188,000 after acquiring an additional 79 shares in the last quarter. US Bancorp DE raised its holdings in shares of Armstrong World Industries by 13.9% during the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock worth $88,000 after acquiring an additional 82 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after acquiring an additional 89 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Armstrong World Industries by 17.3% during the second quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

AWI has been the subject of several recent research reports. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group increased their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital increased their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Truist Financial increased their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Trading Down 1.1 %

Shares of NYSE:AWI opened at $153.65 on Friday. The company has a market cap of $6.70 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.01 and a beta of 1.15. The stock’s 50-day moving average is $148.73 and its 200-day moving average is $131.14. Armstrong World Industries, Inc. has a 52-week low of $95.24 and a 52-week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last released its earnings results 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 return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period last year, the business earned $1.60 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries’s dividend payout ratio (DPR) is 21.69%.

Armstrong World Industries 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.