Arrowstreet Capital Limited Partnership Reduces Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Arrowstreet Capital Limited Partnership lessened its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 370,795 shares of the construction company's stock after selling 5,343 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.85% of Armstrong World Industries worth $52,404,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Citigroup Inc. lifted its stake in Armstrong World Industries by 7.3% in the third quarter. Citigroup Inc. now owns 32,697 shares of the construction company's stock worth $4,297,000 after acquiring an additional 2,215 shares during the period. Bank of Montreal Can raised its holdings in shares of Armstrong World Industries by 166.2% in the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company's stock valued at $6,417,000 after purchasing an additional 30,570 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Armstrong World Industries by 196.1% in the 3rd quarter. Quantbot Technologies LP now owns 5,389 shares of the construction company's stock valued at $708,000 after purchasing an additional 3,569 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Armstrong World Industries by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company's stock worth $1,447,000 after purchasing an additional 5,191 shares during the period. Finally, Bridgewater Associates LP boosted its stake in shares of Armstrong World Industries by 39.3% during the third quarter. Bridgewater Associates LP now owns 2,646 shares of the construction company's stock valued at $348,000 after purchasing an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Remove Ads

Armstrong World Industries Stock Down 3.3 %

NYSE AWI traded down $4.47 during trading on Friday, hitting $130.56. The company's stock had a trading volume of 379,820 shares, compared to its average volume of 268,263. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. 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 company has a market cap of $5.67 billion, a PE ratio of 23.03, a P/E/G ratio of 1.60 and a beta of 1.20. The business's 50 day simple moving average is $147.04 and its 200-day simple moving average is $146.01.

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. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million during the quarter, compared to analysts' expectations of $364.98 million. During the same period last year, the business earned $1.22 EPS. Armstrong World Industries's revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS 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. 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 0.94%. Armstrong World Industries's dividend payout ratio (DPR) is 20.40%.

Analysts Set New Price Targets

A number of analysts have weighed in on AWI shares. UBS Group upped their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Truist Financial raised their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. StockNews.com downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $153.33.

About Armstrong World Industries

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.