Charles Schwab Investment Management Inc. Has $62.07 Million Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Charles Schwab Investment Management Inc. grew its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 472,300 shares of the construction company's stock after purchasing an additional 18,333 shares during the period. Charles Schwab Investment Management Inc. owned about 1.08% of Armstrong World Industries worth $62,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AWI. First Horizon Advisors Inc. increased its holdings in Armstrong World Industries by 25.8% in the third quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company's stock worth $83,000 after buying an additional 130 shares during the last quarter. Quest Partners LLC grew its position in Armstrong World Industries by 32.9% in the third quarter. Quest Partners LLC now owns 19,971 shares of the construction company's stock worth $2,625,000 after acquiring an additional 4,945 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Armstrong World Industries by 3.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 133,383 shares of the construction company's stock worth $17,530,000 after purchasing an additional 4,334 shares during the last quarter. Chesapeake Capital Corp IL raised its holdings in shares of Armstrong World Industries by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 4,314 shares of the construction company's stock valued at $565,000 after purchasing an additional 941 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company's stock valued at $64,678,000 after purchasing an additional 67,798 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AWI shares. Jefferies Financial Group increased their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. StockNews.com raised Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Evercore ISI boosted their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of "Hold" and an average price target of $140.83.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded down $0.39 during trading on Friday, hitting $159.83. 113,007 shares of the stock were exchanged, compared to its average volume of 302,066. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. 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, Inc. has a 1-year low of $83.59 and a 1-year high of $164.40. The company's fifty day simple moving average is $143.79 and its 200-day simple moving average is $128.14.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.06. The firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 earnings per share. Sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. This is a positive change from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. Armstrong World Industries's dividend payout ratio is presently 21.69%.

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.