Los Angeles Capital Management LLC Sells 15,317 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Los Angeles Capital Management LLC lessened its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 445,251 shares of the construction company's stock after selling 15,317 shares during the period. Los Angeles Capital Management LLC owned 1.02% of Armstrong World Industries worth $58,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of Armstrong World Industries in the third quarter worth $26,000. Allspring Global Investments Holdings LLC purchased a new stake in Armstrong World Industries during the 1st quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries during the 3rd quarter valued at about $31,000. First Horizon Advisors Inc. raised its holdings in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company's stock worth $57,000 after buying an additional 125 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company's stock worth $58,000 after buying an additional 153 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AWI has been the subject of several analyst reports. Evercore ISI raised their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Loop Capital upped their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Armstrong World Industries has a consensus rating of "Hold" and an average target price of $140.83.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded up $1.18 during trading on Friday, hitting $153.70. The company's stock had a trading volume of 321,417 shares, compared to its average volume of 261,720. 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 cap of $6.70 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a 50-day moving average of $134.39 and a 200-day moving average of $123.98. Armstrong World Industries, Inc. has a 12 month low of $79.39 and a 12 month high of $154.55.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period last year, the firm earned $1.60 earnings per share. The company's quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Armstrong World Industries's previous quarterly dividend of $0.28. Armstrong World Industries's payout ratio is currently 19.75%.

Armstrong World Industries Company 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.