Arrowstreet Capital Limited Partnership Reduces Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Arrowstreet Capital Limited Partnership reduced its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 370,795 shares of the construction company’s stock after selling 5,343 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Armstrong World Industries were worth $52,404,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AWI. Geode Capital Management LLC increased its holdings in Armstrong World Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after buying an additional 34,028 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Armstrong World Industries by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock valued at $1,447,000 after acquiring an additional 5,191 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Armstrong World Industries during the 3rd quarter valued at approximately $1,035,000. Principal Securities Inc. lifted its stake in Armstrong World Industries by 11.1% during the fourth quarter. Principal Securities Inc. now owns 2,751 shares of the construction company’s stock worth $389,000 after purchasing an additional 274 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Armstrong World Industries by 196.1% in the third quarter. Quantbot Technologies LP now owns 5,389 shares of the construction company’s stock worth $708,000 after purchasing an additional 3,569 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $141.56 on Wednesday. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The business has a 50 day simple moving average of $147.92 and a 200 day simple moving average of $145.84.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. During the same quarter in the prior year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AWI shares. The Goldman Sachs Group raised their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Truist Financial raised their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, UBS Group raised their price target on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $153.33.

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.