Swiss National Bank Lowers Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Swiss National Bank reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.8% in the third quarter, HoldingsChannel.com reports. The fund owned 85,400 shares of the construction company’s stock after selling 700 shares during the quarter. Swiss National Bank’s holdings in Armstrong World Industries were worth $11,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Armstrong World Industries by 107.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after purchasing an additional 33,290 shares in the last quarter. Redwood Investment Management LLC bought a new position in Armstrong World Industries during the first quarter valued at approximately $1,501,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Armstrong World Industries by 12.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 43,421 shares of the construction company’s stock worth $5,395,000 after acquiring an additional 4,922 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Armstrong World Industries by 35.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 21,524 shares of the construction company’s stock worth $2,437,000 after acquiring an additional 5,637 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Armstrong World Industries in the 1st quarter valued at $818,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on AWI shares. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group increased their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Loop Capital lifted their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $159.08 on Friday. The business has a 50 day moving average of $140.65 and a 200 day moving average of $126.68. Armstrong World Industries, Inc. has a 52 week low of $82.63 and a 52 week high of $159.66. The company has a market cap of $6.93 billion, a PE ratio of 28.06, a P/E/G ratio of 2.01 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same period last year, the company posted $1.60 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.69%.

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.