Alberta Investment Management Corp Sells 12,761 Shares of Armstrong World Industries, Inc. $AWI

Alberta Investment Management Corp lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 48.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,339 shares of the construction company’s stock after selling 12,761 shares during the period. Alberta Investment Management Corp’s holdings in Armstrong World Industries were worth $2,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Armstrong World Industries by 0.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company’s stock valued at $188,615,000 after purchasing an additional 8,762 shares during the period. Burgundy Asset Management Ltd. increased its holdings in Armstrong World Industries by 7.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,282,996 shares of the construction company’s stock worth $180,748,000 after acquiring an additional 84,195 shares in the last quarter. Geode Capital Management LLC raised its position in Armstrong World Industries by 0.8% during the second quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company’s stock worth $153,248,000 after acquiring an additional 7,378 shares during the period. Invesco Ltd. grew its position in shares of Armstrong World Industries by 34.0% in the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock valued at $95,886,000 after purchasing an additional 172,779 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Armstrong World Industries by 9.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 583,000 shares of the construction company’s stock worth $82,133,000 after purchasing an additional 50,398 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Evercore ISI lifted their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 30th. Vertical Research started coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They set a “buy” rating and a $238.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Armstrong World Industries from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the company a “hold” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.50.

Armstrong World Industries Stock Down 1.1%

AWI opened at $182.58 on Monday. The stock has a market capitalization of $7.87 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. Armstrong World Industries, Inc. has a one year low of $122.37 and a one year high of $206.08. The business’s 50-day simple moving average is $195.11 and its 200-day simple moving average is $178.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.52.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The company had revenue of $325.00 million for the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. Analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.339 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 6th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s payout ratio is 19.31%.

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.