Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,330,071 shares of the construction company’s stock after selling 8,634 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Armstrong World Industries were worth $187,979,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries in the fourth quarter valued at $32,000. Quent Capital LLC lifted its position in Armstrong World Industries by 288.1% in 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 acquired a new position in Armstrong World Industries during the 4th quarter valued at about $33,000. Twin Tree Management LP bought a new position in Armstrong World Industries in the 4th quarter worth about $43,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock valued at $60,000 after purchasing an additional 202 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AWI. UBS Group boosted their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial raised their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Stock Up 0.3 %

AWI opened at $134.12 on Friday. The stock’s fifty day moving average is $142.70 and its 200-day moving average is $145.87. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The company has a market capitalization of $5.83 billion, a PE ratio of 23.65, a P/E/G ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last issued 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 net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. During the same period in the previous year, the business earned $1.22 earnings per share. Armstrong World Industries’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.308 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.92%. Armstrong World Industries’s dividend payout ratio (DPR) is 20.40%.

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.