Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 370,654 shares of the construction company’s stock after selling 9,627 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Armstrong World Industries worth $52,218,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. OneDigital Investment Advisors LLC lifted its position in shares of Armstrong World Industries by 17.0% during the first quarter. OneDigital Investment Advisors LLC now owns 2,225 shares of the construction company’s stock worth $313,000 after purchasing an additional 323 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Armstrong World Industries by 2.3% during the first quarter. Principal Financial Group Inc. now owns 216,612 shares of the construction company’s stock worth $30,516,000 after purchasing an additional 4,871 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Armstrong World Industries by 29.3% during the first quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company’s stock worth $126,000 after purchasing an additional 203 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth about $273,000. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Armstrong World Industries by 1.2% during the first quarter. Illinois Municipal Retirement Fund now owns 23,920 shares of the construction company’s stock worth $3,370,000 after purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock opened at $168.05 on Friday. The firm has a market capitalization of $7.30 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.11 and a beta of 1.37. Armstrong World Industries, Inc. has a 52 week low of $117.92 and a 52 week high of $170.86. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $157.44 and its two-hundred day moving average is $148.66.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $382.70 million for 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%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. Research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS 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 given a $0.308 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a yield of 0.73%. Armstrong World Industries’s dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

AWI has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They set an “overweight” rating and a $200.00 target price on the stock. Loop Capital cut their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America upped their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries currently has an average rating of “Hold” and a consensus price target 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.