Sage Rhino Capital LLC Takes Position in Armstrong World Industries, Inc. $AWI

Sage Rhino Capital LLC bought a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,246 shares of the construction company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently modified their holdings of AWI. Golden State Wealth Management LLC lifted its holdings in shares of Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock valued at $39,000 after purchasing an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Armstrong World Industries by 652.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares during the last quarter. Versant Capital Management Inc purchased a new position in Armstrong World Industries in the 1st quarter worth about $54,000. Parallel Advisors LLC lifted its stake in Armstrong World Industries by 28.9% during the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company’s stock valued at $75,000 after acquiring an additional 103 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Armstrong World Industries by 40.5% during the 1st quarter. Covestor Ltd now owns 590 shares of the construction company’s stock valued at $83,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AWI. UBS Group reissued a “neutral” rating and set a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a report on Tuesday, June 24th. They set an “overweight” rating and a $200.00 price target on the stock. Truist Financial lifted their price objective on Armstrong World Industries from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Evercore ISI increased their target price on Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.50.

Armstrong World Industries Stock Up 1.0%

NYSE AWI opened at $194.07 on Monday. The stock’s 50-day moving average price is $190.78 and its 200-day moving average price is $164.27. The company has a market capitalization of $8.40 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. Armstrong World Industries, Inc. has a 52 week low of $122.37 and a 52 week high of $200.84.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.34. The company had revenue of $424.60 million for the quarter, compared to analysts’ expectations of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 EPS. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, August 7th. Armstrong World Industries’s dividend payout ratio is presently 18.20%.

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.