Wealth Alliance Trims Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Wealth Alliance cut its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,335 shares of the construction company’s stock after selling 74 shares during the quarter. Wealth Alliance’s holdings in Armstrong World Industries were worth $330,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in Armstrong World Industries during the third quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries during the fourth quarter valued at $32,000. Quent Capital LLC boosted its stake in Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after buying an additional 170 shares during the period. Fortitude Family Office LLC bought a new stake in Armstrong World Industries during the fourth quarter valued at $33,000. Finally, Point72 DIFC Ltd bought a new stake in Armstrong World Industries during the third quarter valued at $47,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective 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. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Truist Financial lifted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Loop Capital lifted their price target 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. Finally, Evercore ISI lifted their price target on 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $142.60.

Armstrong World Industries Trading Down 1.8 %

Shares of AWI stock opened at $146.72 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $147.60 and a two-hundred day moving average price of $141.32. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $164.40. The firm has a market cap of $6.40 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.