Oak Thistle LLC Trims Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Oak Thistle LLC cut its position in Armstrong World Industries, Inc. (NYSE:AWI) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,418 shares of the construction company’s stock after selling 1,772 shares during the quarter. Oak Thistle LLC’s holdings in Armstrong World Industries were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AWI. Headlands Technologies LLC purchased a new stake in Armstrong World Industries in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in Armstrong World Industries in the 4th quarter valued at $49,000. SRS Capital Advisors Inc. boosted its stake in Armstrong World Industries by 19.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,209 shares of the construction company’s stock worth $159,000 after purchasing an additional 363 shares during the period. Principal Securities Inc. purchased a new position in Armstrong World Industries during the 4th quarter worth $185,000. Finally, Aristides Capital LLC acquired a new position in Armstrong World Industries in the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Down 1.6 %

Shares of Armstrong World Industries stock opened at $111.39 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. Armstrong World Industries, Inc. has a 52-week low of $68.35 and a 52-week high of $125.56. The company’s 50-day simple moving average is $115.12 and its 200-day simple moving average is $111.90.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.15. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $319.44 million. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, equities research analysts anticipate that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AWI. UBS Group increased their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI upped their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $110.17.

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.