Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,693 shares of the construction company’s stock after selling 484 shares during the quarter. Mackenzie Financial Corp’s holdings in Armstrong World Industries were worth $265,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its position in shares of Armstrong World Industries by 182.0% during the third quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock worth $28,000 after buying an additional 253 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Armstrong World Industries by 19.7% during the third quarter. SRS Capital Advisors Inc. now owns 2,209 shares of the construction company’s stock worth $159,000 after buying an additional 363 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of Armstrong World Industries during the fourth quarter worth approximately $224,000. JB Capital LLC acquired a new stake in shares of Armstrong World Industries during the fourth quarter worth approximately $229,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Armstrong World Industries during the fourth quarter worth approximately $243,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

AWI stock opened at $116.98 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.61. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.79 and a beta of 1.12. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The stock’s fifty day moving average is $120.09 and its two-hundred day moving average is $100.95.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The company had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. On average, research analysts predict that Armstrong World Industries, Inc. will post 5.74 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 22.40%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AWI. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Truist Financial raised their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group upgraded Armstrong World Industries from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $103.00 in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.60.

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.