Southernsun Asset Management LLC Lowers Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Southernsun Asset Management LLC lowered its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 247,543 shares of the construction company's stock after selling 20,790 shares during the quarter. Armstrong World Industries accounts for 3.9% of Southernsun Asset Management LLC's holdings, making the stock its 16th biggest holding. Southernsun Asset Management LLC owned approximately 0.57% of Armstrong World Industries worth $32,535,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AWI. Jupiter Asset Management Ltd. grew its holdings in Armstrong World Industries by 1,369.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company's stock valued at $27,872,000 after purchasing an additional 229,378 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company's stock worth $52,155,000 after acquiring an additional 145,133 shares during the period. Natixis Advisors LLC grew its stake in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company's stock worth $48,049,000 after purchasing an additional 110,111 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Armstrong World Industries by 171.0% during the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company's stock worth $14,263,000 after purchasing an additional 79,475 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Armstrong World Industries by 27.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company's stock valued at $35,385,000 after purchasing an additional 67,954 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Price Performance

Armstrong World Industries stock traded down $1.42 during trading on Friday, reaching $157.49. The company had a trading volume of 74,343 shares, compared to its average volume of 298,223. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The firm's 50-day simple moving average is $146.01 and its 200 day simple moving average is $129.35. The firm has a market capitalization of $6.86 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. Armstrong World Industries, Inc. has a 1-year low of $90.93 and a 1-year high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to analysts' expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. As a group, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.308 dividend. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. 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 0.78%. Armstrong World Industries's dividend payout ratio is presently 21.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial raised their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Jefferies Financial Group boosted their target price 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. Loop Capital increased their price target on 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 lifted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $140.83.

Armstrong World Industries 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.