BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 28,759 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 20.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,043 shares of the construction company’s stock after selling 28,759 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.26% of Armstrong World Industries worth $14,726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake 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 3rd quarter worth about $31,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Armstrong World Industries by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Armstrong World Industries by 33.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after purchasing an additional 125 shares during the period. Finally, UMB Bank n.a. grew its holdings in Armstrong World Industries by 53.7% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

AWI opened at $159.08 on Friday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.01 and a beta of 1.13. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 12-month low of $82.63 and a 12-month high of $159.66. The business’s fifty day simple moving average is $140.65 and its 200-day simple moving average is $126.68.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating 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 business had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same quarter last year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.308 dividend. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.77%. Armstrong World Industries’s payout ratio is 21.69%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AWI shares. 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 report on Wednesday, October 30th. Loop Capital upped their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their target price on shares of 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, 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and a consensus price target of $140.83.

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.