Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,201 shares of the construction company’s stock after selling 60,350 shares during the quarter. River Road Asset Management LLC owned approximately 0.90% of Armstrong World Industries worth $55,430,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in Armstrong World Industries in the third quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in shares of Armstrong World Industries during the fourth quarter valued at $32,000. Quent Capital LLC boosted its holdings in shares of 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 acquiring an additional 170 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Armstrong World Industries during the fourth quarter valued at $33,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Armstrong World Industries during the third quarter valued at $47,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

AWI stock opened at $143.73 on Tuesday. The company has a market capitalization of $6.25 billion, a P/E ratio of 25.35, a PEG ratio of 1.60 and a beta of 1.25. The company has a 50-day simple moving average of $148.74 and a 200 day simple moving average of $143.86. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. The business 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%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share. Sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Analysts Set New Price Targets

AWI has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Truist Financial boosted their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. UBS Group boosted their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $153.33.

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.