Charles Schwab Investment Management Inc. Has $63.12 Million Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 448,065 shares of the construction company’s stock after selling 19,774 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.03% of Armstrong World Industries worth $63,123,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Burgundy Asset Management Ltd. grew its stake in Armstrong World Industries by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after purchasing an additional 19,787 shares during the period. Adage Capital Partners GP L.L.C. grew its stake 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 worth $94,126,000 after purchasing an additional 389,000 shares during the period. Alyeska Investment Group L.P. grew its stake 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 worth $75,273,000 after purchasing an additional 387,537 shares during the period. Northern Trust Corp grew its stake 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 worth $40,885,000 after purchasing an additional 54,923 shares during the period. Finally, GAMMA Investing LLC grew its stake 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 worth $398,530,000 after purchasing an additional 281,048 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 1.0%

AWI stock opened at $194.37 on Friday. Armstrong World Industries, Inc. has a twelve month low of $118.14 and a twelve month high of $197.04. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $169.00 and its 200-day moving average is $154.28. The firm has a market capitalization of $8.41 billion, a PE ratio of 28.75, a P/E/G ratio of 2.16 and a beta of 1.43.

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

Armstrong World Industries Announces Dividend

The firm also recently declared 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. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 18.20%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AWI shares. Bank of America increased their price target on Armstrong World Industries from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Wall Street Zen upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Truist Financial set a $195.00 price target on Armstrong World Industries and gave the stock a “buy” rating in a report on Wednesday, July 30th. Evercore ISI increased their price target on Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. started coverage on Armstrong World Industries in a report on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.13.

Armstrong World Industries 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.