Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 445,251 shares of the construction company’s stock after selling 15,317 shares during the quarter. Los Angeles Capital Management LLC owned approximately 1.02% of Armstrong World Industries worth $58,519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AWI. Transcendent Capital Group LLC acquired a new stake in Armstrong World Industries during the third quarter valued at $26,000. Allspring Global Investments Holdings LLC purchased a new position in Armstrong World Industries during the first quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in Armstrong World Industries during the third quarter valued at $31,000. First Horizon Advisors Inc. lifted its holdings in Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after purchasing an additional 125 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AWI has been the topic of several recent analyst reports. Loop Capital increased their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI raised their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Trading Up 0.8 %

AWI stock traded up $1.18 during trading on Friday, reaching $153.70. 321,417 shares of the stock were exchanged, compared to its average volume of 261,720. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $134.39 and a 200-day moving average price of $123.98. Armstrong World Industries, Inc. has a 1 year low of $79.39 and a 1 year high of $154.55. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 1.96 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period in the previous year, the firm earned $1.60 earnings per share. Armstrong World Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 19.75%.

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.