Modern Wealth Management LLC Decreases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Modern Wealth Management LLC lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 63.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,668 shares of the construction company’s stock after selling 4,671 shares during the period. Modern Wealth Management LLC’s holdings in Armstrong World Industries were worth $404,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries during the fourth quarter worth $32,000. Quent Capital LLC increased its position in shares of Armstrong World Industries by 288.1% during the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after purchasing an additional 170 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Armstrong World Industries during the 4th quarter worth $33,000. Twin Tree Management LP purchased a new position in shares of Armstrong World Industries in the 4th quarter worth about $43,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Armstrong World Industries in the 3rd quarter worth about $47,000. 98.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Armstrong World Industries Stock Down 0.1 %

AWI opened at $144.33 on Friday. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The company has a market cap of $6.27 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average of $148.46 and a 200 day moving average of $145.16.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current 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 issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s payout ratio is presently 20.40%.

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.