IHT Wealth Management LLC Makes New $227,000 Investment in Armstrong World Industries, Inc. (NYSE:AWI)

IHT Wealth Management LLC acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,710 shares of the construction company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Armstrong World Industries in the third quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in shares of Armstrong World Industries in the third quarter valued at $31,000. Allspring Global Investments Holdings LLC raised its stake in shares of Armstrong World Industries by 41.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after buying an additional 89 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after buying an additional 125 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AWI shares. Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Loop Capital boosted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price on 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 boosted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $154.81 on Wednesday. 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, Inc. has a 52-week low of $92.29 and a 52-week high of $164.40. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.02 and a beta of 1.15. The business’s fifty day moving average is $147.45 and its 200 day moving average is $130.42.

Armstrong World Industries (NYSE:AWI) last announced 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. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. Research analysts predict 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 was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.308 dividend. This is a positive change 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%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is currently 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.