First Manhattan CO. LLC. Cuts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

First Manhattan CO. LLC. lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 7,750 shares of the construction company’s stock after selling 190 shares during the period. First Manhattan CO. LLC.’s holdings in Armstrong World Industries were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AWI. Quent Capital LLC boosted its holdings in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after buying an additional 170 shares during the last quarter. Twin Tree Management LP bought a new stake in Armstrong World Industries in the fourth quarter worth about $43,000. Farther Finance Advisors LLC raised its position in Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock worth $60,000 after acquiring an additional 202 shares during the period. Smartleaf Asset Management LLC boosted its stake in Armstrong World Industries by 196.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company’s stock valued at $80,000 after acquiring an additional 376 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its position in shares of Armstrong World Industries by 107.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock valued at $95,000 after acquiring an additional 349 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $152.50 on Monday. The firm has a market capitalization of $6.62 billion, a P/E ratio of 26.90, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The business has a fifty day moving average price of $140.31 and a 200-day moving average price of $146.58.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same quarter last year, the company earned $1.38 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Thursday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

A number of research firms recently commented on AWI. Loop Capital lowered their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. UBS Group boosted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Truist Financial upped their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $155.50.

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.