Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Covestor Ltd

Covestor Ltd lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 65.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420 shares of the construction company’s stock after selling 785 shares during the quarter. Covestor Ltd’s holdings in Armstrong World Industries were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Armstrong World Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after purchasing an additional 34,028 shares during the period. Principal Securities Inc. increased its holdings in Armstrong World Industries by 11.1% in the fourth quarter. Principal Securities Inc. now owns 2,751 shares of the construction company’s stock valued at $389,000 after buying an additional 274 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Armstrong World Industries by 8.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company’s stock valued at $874,000 after acquiring an additional 456 shares during the period. SG Americas Securities LLC boosted its stake in shares of Armstrong World Industries by 639.8% during the 4th quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company’s stock worth $1,022,000 after acquiring an additional 6,251 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Armstrong World Industries by 11.4% in the 4th quarter. Blue Trust Inc. now owns 1,591 shares of the construction company’s stock worth $209,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

NYSE:AWI opened at $134.99 on Tuesday. 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 $5.87 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company’s 50-day moving average is $144.10 and its two-hundred day moving average is $145.92. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates 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 was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. Research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.308 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.91%. Armstrong World Industries’s payout ratio is currently 20.40%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AWI shares. StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial lifted their price target on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted their target price 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. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.