Armstrong World Industries, Inc. (NYSE:AWI) Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,350 shares of the construction company’s stock after selling 442 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Armstrong World Industries were worth $1,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in shares of Armstrong World Industries in the third quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in shares of Armstrong World Industries in the 3rd quarter worth $31,000. Allspring Global Investments Holdings LLC raised its position in shares of Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after purchasing an additional 125 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after purchasing an additional 153 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Up 0.0 %

AWI stock opened at $162.01 on Wednesday. The company has a 50 day moving average of $141.35 and a two-hundred day moving average of $127.07. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.03 and a beta of 1.13. Armstrong World Industries, Inc. has a 12-month low of $82.63 and a 12-month high of $164.40. 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 released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.308 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.76%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Wall Street Analysts Forecast Growth

AWI has been the topic of several recent analyst reports. UBS Group boosted their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Evercore ISI raised their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.83.

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.