KBC Group NV Sells 229 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

KBC Group NV lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,593 shares of the construction company’s stock after selling 229 shares during the quarter. KBC Group NV’s holdings in Armstrong World Industries were worth $224,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AWI. Illinois Municipal Retirement Fund grew its position in Armstrong World Industries by 1.2% in the first quarter. Illinois Municipal Retirement Fund now owns 23,920 shares of the construction company’s stock worth $3,370,000 after acquiring an additional 285 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Armstrong World Industries in the first quarter worth $892,000. Golden State Wealth Management LLC grew its position in Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after acquiring an additional 140 shares in the last quarter. Lecap Asset Management Ltd. grew its position in Armstrong World Industries by 178.5% in the first quarter. Lecap Asset Management Ltd. now owns 11,603 shares of the construction company’s stock worth $1,635,000 after acquiring an additional 7,437 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in Armstrong World Industries by 194.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company’s stock worth $683,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

NYSE AWI opened at $167.75 on Monday. The company has a 50-day simple moving average of $155.16 and a two-hundred day simple moving average of $147.85. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.67. Armstrong World Industries, Inc. has a 12-month low of $111.89 and a 12-month high of $169.32. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.10 and a beta of 1.37.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. Armstrong World Industries’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. On average, equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.73%. Armstrong World Industries’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 target price for the company. Bank of America upped their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, Loop Capital cut their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $162.88.

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.