Envestnet Asset Management Inc. Grows Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Asset Management Inc. raised its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,362 shares of the construction company's stock after buying an additional 3,854 shares during the period. Envestnet Asset Management Inc. owned approximately 0.77% of Armstrong World Industries worth $47,397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AWI. HighTower Advisors LLC increased its position in Armstrong World Industries by 1.1% during the 3rd quarter. HighTower Advisors LLC now owns 15,730 shares of the construction company's stock worth $2,073,000 after purchasing an additional 177 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Armstrong World Industries by 33.1% during the third quarter. Quantinno Capital Management LP now owns 9,494 shares of the construction company's stock worth $1,248,000 after buying an additional 2,362 shares in the last quarter. State Street Corp raised its position in shares of Armstrong World Industries by 3.7% in the third quarter. State Street Corp now owns 1,454,150 shares of the construction company's stock valued at $191,119,000 after buying an additional 51,839 shares during the last quarter. Jane Street Group LLC raised its position in shares of Armstrong World Industries by 37.3% in the third quarter. Jane Street Group LLC now owns 63,513 shares of the construction company's stock valued at $8,348,000 after buying an additional 17,263 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in shares of Armstrong World Industries by 10.1% during the third quarter. MML Investors Services LLC now owns 25,537 shares of the construction company's stock valued at $3,356,000 after buying an additional 2,339 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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Armstrong World Industries Stock Up 0.3 %

Shares of AWI stock traded up $0.37 during trading hours on Tuesday, reaching $135.40. The company had a trading volume of 95,554 shares, compared to its average volume of 269,738. The company has a market capitalization of $5.89 billion, a P/E ratio of 23.88, 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, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The stock's fifty day simple moving average is $144.10 and its 200 day simple moving average is $145.92.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $364.98 million. During the same quarter last year, the firm posted $1.22 earnings per share. The business's quarterly revenue was up 17.7% on a year-over-year basis. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given 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 0.91%. Armstrong World Industries's payout ratio is currently 20.40%.

Wall Street Analysts Forecast Growth

AWI has been the subject of several analyst reports. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company 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.