Bank of New York Mellon Corp Raises Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Bank of New York Mellon Corp lifted its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,281 shares of the construction company's stock after acquiring an additional 2,149 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Armstrong World Industries worth $53,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd lifted its holdings in Armstrong World Industries by 12.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 6,553 shares of the construction company's stock valued at $926,000 after purchasing an additional 707 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Armstrong World Industries by 11.0% during the fourth quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company's stock valued at $43,914,000 after purchasing an additional 30,878 shares in the last quarter. Ieq Capital LLC purchased a new position in Armstrong World Industries during the fourth quarter valued at approximately $502,000. Global Retirement Partners LLC lifted its holdings in Armstrong World Industries by 29.1% during the fourth quarter. Global Retirement Partners LLC now owns 3,215 shares of the construction company's stock valued at $454,000 after purchasing an additional 724 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Armstrong World Industries by 8.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,858 shares of the construction company's stock valued at $263,000 after purchasing an additional 140 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

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Armstrong World Industries Price Performance

AWI traded up $1.01 during trading hours on Friday, hitting $149.84. The company's stock had a trading volume of 565,489 shares, compared to its average volume of 252,352. The business's 50-day moving average price is $148.70 and its 200-day moving average price is $143.58. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.60 and a beta of 1.25. 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 (NYSE:AWI - Get Free Report) last announced its quarterly 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 net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million for the quarter, compared to analysts' expectations of $364.98 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. Armstrong World Industries's quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries's dividend payout ratio is presently 20.40%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AWI. StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday. The Goldman Sachs Group lifted 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 report on Friday, February 28th. Truist Financial lifted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, UBS Group lifted their price objective on shares of 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 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, Armstrong World Industries 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.