Salvus Wealth Management LLC Sells 302 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Salvus Wealth Management LLC cut its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,808 shares of the construction company’s stock after selling 302 shares during the period. Armstrong World Industries makes up 1.6% of Salvus Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Salvus Wealth Management LLC’s holdings in Armstrong World Industries were worth $2,509,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at about $2,326,000. Principal Securities Inc. grew its stake in Armstrong World Industries by 11.1% during the fourth quarter. Principal Securities Inc. now owns 2,751 shares of the construction company’s stock worth $389,000 after buying an additional 274 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Armstrong World Industries by 8.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company’s stock valued at $874,000 after purchasing an additional 456 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Armstrong World Industries by 7.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company’s stock worth $1,069,000 after acquiring an additional 555 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Armstrong World Industries during the 4th quarter valued at $463,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AWI. UBS Group increased their price target on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Loop Capital lowered their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Truist Financial increased their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group increased their target price 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $157.57.

Armstrong World Industries Trading Up 0.3%

AWI opened at $155.50 on Thursday. 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 50 day simple moving average of $145.07 and a two-hundred day simple moving average of $147.75. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.60 and a beta of 1.36.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The firm had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. Analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 19.68%.

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.