Timucuan Asset Management Inc. FL Sells 2,398 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Timucuan Asset Management Inc. FL trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 924,278 shares of the construction company's stock after selling 2,398 shares during the period. Armstrong World Industries makes up 4.0% of Timucuan Asset Management Inc. FL's portfolio, making the stock its 14th biggest position. Timucuan Asset Management Inc. FL owned 2.12% of Armstrong World Industries worth $130,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Armstrong World Industries by 4.2% during the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock worth $111,954,000 after purchasing an additional 34,028 shares during the last quarter. Principal Securities Inc. boosted its stake in Armstrong World Industries by 11.1% during the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock valued at $389,000 after purchasing an additional 274 shares during the period. Pictet Asset Management Holding SA grew its holdings in Armstrong World Industries by 8.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock worth $874,000 after buying an additional 456 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Armstrong World Industries by 639.8% during the fourth quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company's stock valued at $1,022,000 after purchasing an additional 6,251 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Armstrong World Industries by 11.4% during the fourth quarter. Blue Trust Inc. now owns 1,591 shares of the construction company's stock valued at $209,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

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Armstrong World Industries Stock Up 0.6 %

NYSE:AWI traded up $0.77 during trading hours on Tuesday, hitting $135.80. 436,070 shares of the stock traded hands, compared to its average volume of 309,953. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.60 and a beta of 1.20. The firm has a 50 day moving average price of $144.10 and a 200 day moving average price of $145.92. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 EPS. Equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on AWI. StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. The Goldman Sachs Group raised their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, UBS Group lifted their price target 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.