Vanguard Group Inc. Sells 45,755 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Vanguard Group Inc. decreased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,602,386 shares of the construction company’s stock after selling 45,755 shares during the period. Vanguard Group Inc. owned about 10.60% of Armstrong World Industries worth $648,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AWI. Adage Capital Partners GP L.L.C. lifted its position in Armstrong World Industries by 140.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after purchasing an additional 389,000 shares during the period. Alyeska Investment Group L.P. increased its holdings in Armstrong World Industries by 267.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock valued at $75,273,000 after buying an additional 387,537 shares during the last quarter. GAMMA Investing LLC increased its holdings in Armstrong World Industries by 15,282.7% during the first quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company’s stock valued at $398,530,000 after buying an additional 281,048 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Armstrong World Industries during the fourth quarter valued at approximately $8,375,000. Finally, Northern Trust Corp increased its holdings in Armstrong World Industries by 23.4% during the fourth quarter. Northern Trust Corp now owns 289,289 shares of the construction company’s stock valued at $40,885,000 after buying an additional 54,923 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

AWI opened at $196.59 on Thursday. The firm has a market cap of $8.50 billion, a P/E ratio of 29.08, a PEG ratio of 2.13 and a beta of 1.43. Armstrong World Industries, Inc. has a 1-year low of $118.14 and a 1-year high of $197.04. The company has a 50 day simple moving average of $168.21 and a two-hundred day simple moving average of $153.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11.

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

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given 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 is currently 18.20%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AWI. UBS Group reaffirmed a “neutral” rating and set a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the company a “hold” rating in a report on Wednesday, July 30th. Evercore ISI upped their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a report on Wednesday, July 30th. Bank of America upped their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They set an “overweight” rating and a $200.00 target price for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.13.

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.