Modern Wealth Management LLC Sells 4,671 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Modern Wealth Management LLC lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 63.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,668 shares of the construction company’s stock after selling 4,671 shares during the quarter. Modern Wealth Management LLC’s holdings in Armstrong World Industries were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Madison Investment Advisors LLC purchased a new position in Armstrong World Industries during the fourth quarter worth about $75,242,000. Raymond James Financial Inc. purchased a new position in shares of Armstrong World Industries during the fourth quarter worth about $8,375,000. State Street Corp grew its holdings in shares of Armstrong World Industries by 3.7% during the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after purchasing an additional 51,839 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Armstrong World Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock worth $656,922,000 after purchasing an additional 34,579 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 purchasing an additional 34,028 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Down 0.1 %

Shares of AWI stock opened at $144.33 on Friday. 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 business has a 50-day moving average of $148.46 and a 200 day moving average of $145.16. The stock has a market capitalization of $6.27 billion, a PE ratio of 25.46, a P/E/G ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. During the same period in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is 20.40%.

Analysts Set New Price Targets

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

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.