Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Covestor Ltd

Covestor Ltd lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 65.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 420 shares of the construction company’s stock after selling 785 shares during the quarter. Covestor Ltd’s holdings in Armstrong World Industries were worth $59,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. ORG Wealth Partners LLC purchased a new stake in Armstrong World Industries during the fourth quarter valued at about $32,000. Quent Capital LLC grew its holdings in shares of Armstrong World Industries by 288.1% during the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after purchasing an additional 170 shares during the period. Fortitude Family Office LLC acquired a new stake in Armstrong World Industries during the 4th quarter worth approximately $33,000. Twin Tree Management LP purchased a new position in Armstrong World Industries in the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC lifted its position in Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock valued at $60,000 after buying an additional 202 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Trading Up 0.2 %

Shares of AWI opened at $134.99 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The stock has a 50-day moving average price of $144.10 and a 200 day moving average price of $145.92. The company has a market capitalization of $5.87 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.60 and a beta of 1.20.

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

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.91%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Wall Street Analysts Forecast Growth

AWI has been the subject of several recent research reports. Truist Financial increased their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. UBS Group raised their price objective 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. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group boosted their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and a consensus target price 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.