Entropy Technologies LP Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Entropy Technologies LP bought a new position in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,900 shares of the construction company’s stock, valued at approximately $775,000.

Other large investors also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. bought a new stake in Armstrong World Industries during the first quarter worth approximately $2,081,000. Assenagon Asset Management S.A. increased its stake in Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after acquiring an additional 33,290 shares during the last quarter. Sei Investments Co. increased its stake in Armstrong World Industries by 185.3% during the first quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock worth $6,489,000 after acquiring an additional 33,927 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in Armstrong World Industries during the first quarter worth approximately $938,000. Finally, Redwood Investment Management LLC bought a new stake in Armstrong World Industries during the first quarter worth approximately $1,501,000. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Down 0.3 %

Shares of NYSE:AWI opened at $153.17 on Friday. Armstrong World Industries, Inc. has a 52-week low of $81.47 and a 52-week high of $157.51. The stock has a market cap of $6.68 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. The business’s 50 day moving average is $136.78 and its 200 day moving average is $124.98. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted 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 company had revenue of $386.60 million during 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%. Armstrong World Industries’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. Sell-side analysts predict that Armstrong World Industries, Inc. will post 6.17 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Loop Capital boosted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI upped their target price 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. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Jefferies Financial Group upped 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, UBS Group upped 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Company 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.