Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 89.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,320 shares of the construction company's stock after selling 43,643 shares during the quarter. Bank of Montreal Can's holdings in Armstrong World Industries were worth $752,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries during the 4th quarter valued at $32,000. Quent Capital LLC increased its stake 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 valued at $32,000 after buying an additional 170 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Armstrong World Industries in the fourth quarter valued at about $33,000. Twin Tree Management LP purchased a new stake in Armstrong World Industries in the fourth quarter worth about $43,000. Finally, Farther Finance Advisors LLC grew its holdings in Armstrong World Industries by 90.2% during the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after acquiring an additional 202 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a report 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 report on Thursday, February 27th. StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, UBS Group upped their price objective 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. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Armstrong World Industries has an average rating of "Hold" and a consensus price target of $153.33.

Armstrong World Industries Stock Up 1.6 %

Shares of AWI stock traded up $2.09 during trading hours on Thursday, reaching $136.20. 64,468 shares of the company's stock were exchanged, compared to its average volume of 271,422. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The stock's 50 day moving average is $141.46 and its 200-day moving average is $145.75. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 1.60 and a beta of 1.20.

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

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.90%. Armstrong World Industries's payout ratio is currently 20.40%.

Armstrong World Industries Company 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.