KBC Group NV Trims Position in Armstrong World Industries, Inc. $AWI

KBC Group NV decreased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 34.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,052 shares of the construction company’s stock after selling 541 shares during the quarter. KBC Group NV’s holdings in Armstrong World Industries were worth $171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Armstrong World Industries by 131.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock valued at $62,060,000 after purchasing an additional 250,133 shares during the last quarter. Invesco Ltd. grew its position in Armstrong World Industries by 34.0% during the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock valued at $95,886,000 after buying an additional 172,779 shares during the period. Nuveen LLC purchased a new stake in Armstrong World Industries during the first quarter valued at approximately $23,449,000. Global Alpha Capital Management Ltd. bought a new position in Armstrong World Industries in the first quarter worth approximately $21,301,000. Finally, AQR Capital Management LLC raised its position in Armstrong World Industries by 91.7% in the first quarter. AQR Capital Management LLC now owns 248,363 shares of the construction company’s stock worth $34,296,000 after acquiring an additional 118,830 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AWI. Vertical Research began coverage on Armstrong World Industries in a research note on Monday, October 20th. They issued a “buy” rating and a $238.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on Armstrong World Industries from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Zacks Research downgraded Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. UBS Group lifted their price objective on Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and an average target price of $207.50.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $180.51 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Armstrong World Industries, Inc. has a 12-month low of $122.37 and a 12-month high of $206.08. The stock has a 50-day moving average price of $194.19 and a 200 day moving average price of $179.05. The stock has a market capitalization of $7.78 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.87 and a beta of 1.41.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 EPS for the quarter. Armstrong World Industries had a return on equity of 38.97% and a net margin of 19.08%.The company had revenue of $325.00 million for the quarter. Equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be paid a dividend of $0.339 per share. The ex-dividend date of this dividend is Thursday, November 6th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 0.8%. Armstrong World Industries’s dividend payout ratio is 19.31%.

About Armstrong World Industries

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.