Armstrong World Industries, Inc. $AWI Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 106.3% during the second quarter, Holdings Channel reports. The firm owned 19,410 shares of the construction company’s stock after purchasing an additional 10,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Armstrong World Industries were worth $3,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Armstrong World Industries in the 1st quarter valued at approximately $2,508,000. Versor Investments LP purchased a new stake in shares of Armstrong World Industries during the first quarter worth $596,000. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Armstrong World Industries in the second quarter valued at $289,000. Andina Capital Management LLC purchased a new position in Armstrong World Industries in the first quarter valued at $455,000. Finally, Amundi grew its stake in Armstrong World Industries by 55.1% during the 1st quarter. Amundi now owns 35,227 shares of the construction company’s stock worth $4,757,000 after purchasing an additional 12,514 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AWI shares. Vertical Research initiated coverage on Armstrong World Industries in a research report on Monday, October 20th. They issued a “buy” rating and a $238.00 price target on the stock. UBS Group raised their target price on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Truist Financial increased their price objective on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Zacks Research cut shares of Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Armstrong World Industries presently has an average rating of “Moderate Buy” and a consensus price target of $207.50.

Armstrong World Industries Stock Up 1.4%

AWI stock opened at $182.97 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $206.08. The company’s 50 day moving average is $193.54 and its two-hundred day moving average is $179.49. The stock has a market cap of $7.89 billion, a P/E ratio of 26.18, a PEG ratio of 1.87 and a beta of 1.41.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The business had revenue of $325.00 million during the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. Research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were given a dividend of $0.339 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, November 6th. Armstrong World Industries’s payout ratio is presently 19.31%.

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.