Assenagon Asset Management S.A. Sells 86,917 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Assenagon Asset Management S.A. trimmed its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 93.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,639 shares of the construction company’s stock after selling 86,917 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Armstrong World Industries were worth $794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AWI. GAMMA Investing LLC lifted its holdings in Armstrong World Industries by 9.2% in the first quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock valued at $283,000 after acquiring an additional 169 shares during the period. Park Avenue Securities LLC raised its stake in shares of Armstrong World Industries by 3.6% during the 1st quarter. Park Avenue Securities LLC now owns 8,375 shares of the construction company’s stock worth $1,180,000 after buying an additional 288 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Armstrong World Industries during the first quarter worth approximately $410,000. NBC Securities Inc. increased its position in shares of Armstrong World Industries by 125,666.7% during the first quarter. NBC Securities Inc. now owns 3,773 shares of the construction company’s stock worth $531,000 after purchasing an additional 3,770 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new stake in shares of Armstrong World Industries during the first quarter worth approximately $54,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AWI has been the subject of a number of research analyst reports. Wall Street Zen cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. 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 report on Wednesday, February 26th. Truist Financial increased their price target on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Loop Capital lowered their price target on Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group increased their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $157.57.

Armstrong World Industries Stock Up 0.4%

AWI opened at $151.10 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The business has a 50 day simple moving average of $148.83 and a 200-day simple moving average of $147.41. The stock has a market capitalization of $6.56 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.90 and a beta of 1.38. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40.

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 the consensus estimate of $1.55 by $0.11. The business had revenue of $382.70 million during the quarter, compared to analysts’ expectations of $370.71 million. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. On average, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.308 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.82%. Armstrong World Industries’s dividend payout ratio is presently 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.