Hotchkis & Wiley Capital Management LLC Cuts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Hotchkis & Wiley Capital Management LLC decreased its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,350 shares of the construction company's stock after selling 4,750 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.17% of Armstrong World Industries worth $9,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Jupiter Asset Management Ltd. boosted its position in Armstrong World Industries by 1,369.3% in the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company's stock worth $27,872,000 after purchasing an additional 229,378 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company's stock valued at $52,155,000 after buying an additional 145,133 shares during the period. Natixis Advisors LLC grew its position in Armstrong World Industries by 35.0% during the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company's stock valued at $48,049,000 after buying an additional 110,111 shares during the period. Squarepoint Ops LLC increased its holdings in Armstrong World Industries by 171.0% during the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company's stock valued at $14,263,000 after buying an additional 79,475 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Armstrong World Industries by 27.8% in the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company's stock worth $35,385,000 after acquiring an additional 67,954 shares during the period. Institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

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

Armstrong World Industries Price Performance

AWI stock traded down $1.03 during midday trading on Thursday, hitting $158.91. The company's stock had a trading volume of 104,253 shares, compared to its average volume of 299,231. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 12 month low of $90.93 and a 12 month high of $164.40. The company has a 50 day moving average of $145.44 and a two-hundred day moving average of $129.15. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current 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 represents a $1.23 annualized dividend and a dividend yield of 0.78%. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. Armstrong World Industries's payout ratio is 21.69%.

Armstrong World Industries 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.