Franklin Resources Inc. increased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,478 shares of the construction company's stock after buying an additional 5,496 shares during the period. Franklin Resources Inc. owned 0.07% of Armstrong World Industries worth $4,025,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Armstrong World Industries during the fourth quarter worth $32,000. Quent Capital LLC increased its position in shares of Armstrong World Industries by 288.1% during 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 shares of Armstrong World Industries in the 4th quarter worth about $33,000. Twin Tree Management LP acquired a new stake in shares of Armstrong World Industries in the 4th quarter worth about $43,000. Finally, Farther Finance Advisors LLC lifted its position in Armstrong World Industries by 90.2% in the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after acquiring an additional 202 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on AWI. The Goldman Sachs Group increased their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Truist Financial upped 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 note on Thursday, February 27th. StockNews.com lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, UBS Group upped their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $153.33.
Read Our Latest Stock Analysis on Armstrong World Industries
Armstrong World Industries Stock Performance
AWI stock traded up $0.77 during mid-day trading on Tuesday, hitting $135.80. The company had a trading volume of 436,070 shares, compared to its average volume of 271,046. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The stock's fifty day moving average price is $144.10 and its two-hundred day moving average price is $145.92. The firm has a market cap of $5.90 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.
Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. The business had revenue of $367.70 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. On average, analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.
Armstrong World Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.91%. Armstrong World Industries's payout ratio is 20.40%.
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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