Arrowstreet Capital Limited Partnership Trims Position in Armstrong World Industries, Inc. (NYSE:AWI)

Arrowstreet Capital Limited Partnership reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 370,795 shares of the construction company’s stock after selling 5,343 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.85% of Armstrong World Industries worth $52,404,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AWI. Madison Investment Advisors LLC purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at $75,242,000. Norges Bank acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at about $71,822,000. Raymond James Financial Inc. acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at about $8,375,000. State Street Corp lifted its holdings in shares of Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after acquiring an additional 51,839 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Armstrong World Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock worth $656,922,000 after acquiring an additional 34,579 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Trading Up 0.5 %

Shares of AWI opened at $141.56 on Wednesday. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The stock’s 50-day moving average is $147.92 and its two-hundred day moving average is $145.84. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The stock has a market cap of $6.15 billion, a PE ratio of 24.97, a P/E/G ratio of 1.60 and a beta of 1.25.

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

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s payout ratio is 20.40%.

Wall Street Analyst Weigh In

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

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.