Alliancebernstein L.P. lessened its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,196,234 shares of the construction company's stock after selling 87,248 shares during the period. Alliancebernstein L.P. owned 2.74% of Armstrong World Industries worth $169,064,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of Armstrong World Industries during the fourth quarter valued at about $32,000. Quent Capital LLC boosted its holdings in Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock worth $32,000 after acquiring an additional 170 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Armstrong World Industries in the fourth quarter valued at approximately $33,000. Twin Tree Management LP bought a new stake in shares of Armstrong World Industries during the fourth quarter valued at approximately $43,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Armstrong World Industries during the third quarter worth approximately $47,000. 98.93% of the stock is owned by institutional investors.
Armstrong World Industries Stock Down 3.3 %
AWI stock traded down $4.47 during trading on Friday, reaching $130.56. The stock had a trading volume of 379,820 shares, compared to its average volume of 268,263. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The company's 50 day moving average is $147.04 and its two-hundred day moving average is $145.89. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 1.60 and a beta of 1.20.
Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. The business had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. Equities research analysts forecast 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. Investors of record on Thursday, March 6th were given a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.94%. Armstrong World Industries's payout ratio is currently 20.40%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on AWI shares. StockNews.com lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Truist Financial boosted their target price 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. The Goldman Sachs Group raised their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, UBS Group boosted their price objective 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $153.33.
View Our Latest Stock Report on Armstrong World Industries
About Armstrong World Industries
(
Free Report)
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.
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