Thrivent Financial for Lutherans Sells 21,309 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Thrivent Financial for Lutherans trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,074 shares of the construction company's stock after selling 21,309 shares during the period. Thrivent Financial for Lutherans owned approximately 0.26% of Armstrong World Industries worth $15,839,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Madison Investment Advisors LLC bought a new position in Armstrong World Industries in the 4th quarter valued at approximately $75,242,000. Raymond James Financial Inc. bought a new position in shares of Armstrong World Industries during the 4th quarter worth about $8,375,000. State Street Corp increased 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 valued at $191,119,000 after acquiring an additional 51,839 shares in the last quarter. Geode Capital Management LLC increased its stake in Armstrong World Industries by 4.2% during the 3rd 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. Finally, Allianz Asset Management GmbH raised its holdings in shares of Armstrong World Industries by 11.0% in the 4th quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company's stock worth $43,914,000 after acquiring an additional 30,878 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

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Armstrong World Industries Stock Down 1.0 %

Shares of Armstrong World Industries stock traded down $1.53 during midday trading on Wednesday, hitting $144.48. The company had a trading volume of 249,758 shares, compared to its average volume of 265,922. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40. 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 stock has a market capitalization of $6.28 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a 50 day moving average of $148.60 and a 200 day moving average of $145.17.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its 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 firm had revenue of $367.70 million for the quarter, compared to analysts' expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AWI. UBS Group boosted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Truist Financial upped their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price target on 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, StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $153.33.

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.