Fuller & Thaler Asset Management Inc. Trims Stake in Armstrong World Industries, Inc. $AWI

Fuller & Thaler Asset Management Inc. reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,696,797 shares of the construction company’s stock after selling 218,267 shares during the quarter. Armstrong World Industries accounts for approximately 0.9% of Fuller & Thaler Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Fuller & Thaler Asset Management Inc. owned approximately 3.91% of Armstrong World Industries worth $239,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Armstrong World Industries by 113.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company’s stock worth $672,000 after purchasing an additional 2,538 shares during the period. Dynamic Advisor Solutions LLC raised its position in Armstrong World Industries by 194.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company’s stock worth $683,000 after purchasing an additional 3,200 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Armstrong World Industries in the 4th quarter worth about $2,326,000. Golden State Wealth Management LLC raised its position in Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC grew its stake in Armstrong World Industries by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock worth $283,000 after acquiring an additional 169 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

NYSE AWI opened at $193.46 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The firm’s 50 day moving average price is $169.77 and its 200-day moving average price is $154.64. Armstrong World Industries, Inc. has a 52-week low of $118.14 and a 52-week high of $197.04. The company has a market cap of $8.37 billion, a PE ratio of 28.62, a P/E/G ratio of 2.13 and a beta of 1.43.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. During the same period last year, the firm earned $1.62 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis. Sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.308 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 18.20%.

Analysts Set New Price Targets

A number of equities analysts have commented on AWI shares. Truist Financial set a $195.00 target price on shares of Armstrong World Industries and gave the stock a “buy” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 target price on the stock. UBS Group restated a “neutral” rating and issued a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Finally, Evercore ISI upped their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.13.

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.