Prudential Financial Inc. Trims Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Prudential Financial Inc. lessened its position in Armstrong World Industries, Inc. (NYSE:AWI) by 21.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,492 shares of the construction company’s stock after selling 45,904 shares during the quarter. Prudential Financial Inc. owned 0.40% of Armstrong World Industries worth $24,378,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Armstrong World Industries by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Armstrong World Industries by 7.3% during the 3rd quarter. Citigroup Inc. now owns 32,697 shares of the construction company’s stock worth $4,297,000 after acquiring an additional 2,215 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Armstrong World Industries by 31.1% during the 3rd quarter. Cerity Partners LLC now owns 17,038 shares of the construction company’s stock worth $2,239,000 after acquiring an additional 4,044 shares during the last quarter. Bank of Montreal Can boosted its holdings in Armstrong World Industries by 166.2% during the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock valued at $6,417,000 after acquiring an additional 30,570 shares during the period. Finally, Quantbot Technologies LP grew its position in Armstrong World Industries by 196.1% in the 3rd quarter. Quantbot Technologies LP now owns 5,389 shares of the construction company’s stock valued at $708,000 after acquiring an additional 3,569 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. UBS Group raised their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Truist Financial boosted their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $153.33.

Armstrong World Industries Trading Down 1.0 %

NYSE:AWI opened at $144.48 on Thursday. The firm has a 50-day simple moving average of $148.53 and a 200-day simple moving average of $145.16. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The firm has a market cap of $6.28 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.85%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

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.