SG Americas Securities LLC lifted its position in Armstrong World Industries Inc (NYSE:AWI) by 198.0% in the first quarter, HoldingsChannel.com reports. The firm owned 15,986 shares of the construction company’s stock after acquiring an additional 10,621 shares during the period. SG Americas Securities LLC’s holdings in Armstrong World Industries were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of AWI. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Armstrong World Industries in the first quarter valued at $26,000. Aigen Investment Management LP acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at $31,000. Steward Partners Investment Advisory LLC raised its stake in shares of Armstrong World Industries by 1,761.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 484 shares of the construction company’s stock valued at $38,000 after purchasing an additional 458 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at $39,000. Finally, Huntington National Bank raised its stake in Armstrong World Industries by 58,000.0% during the fourth quarter. Huntington National Bank now owns 581 shares of the construction company’s stock worth $55,000 after acquiring an additional 580 shares in the last quarter.
Several research analysts have issued reports on the company. SunTrust Banks dropped their price objective on Armstrong World Industries from $100.00 to $95.00 in a research note on Tuesday, April 28th. BNP Paribas upgraded Armstrong World Industries from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 21st. ValuEngine upgraded Armstrong World Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Loop Capital upgraded Armstrong World Industries from a “sell” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $83.00 in a research note on Tuesday, March 17th. Finally, Nomura Securities increased their price objective on Armstrong World Industries from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $102.20.
Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, April 27th. The construction company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). The business had revenue of $248.70 million for the quarter, compared to the consensus estimate of $250.69 million. Armstrong World Industries had a positive return on equity of 71.34% and a negative net margin of 4.86%. Armstrong World Industries’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. As a group, analysts forecast that Armstrong World Industries Inc will post 4.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, May 6th. Armstrong World Industries’s dividend payout ratio is 16.74%.
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.
Read More: Capital Gains
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