JPMorgan Chase & Co. Sells 20,297 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

JPMorgan Chase & Co. reduced its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 29.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,997 shares of the construction company's stock after selling 20,297 shares during the period. JPMorgan Chase & Co. owned about 0.11% of Armstrong World Industries worth $6,440,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AWI. Transcendent Capital Group LLC acquired a new stake in Armstrong World Industries in the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in shares of Armstrong World Industries during the third quarter valued at approximately $31,000. Point72 DIFC Ltd bought a new stake in shares of Armstrong World Industries during the third quarter valued at approximately $47,000. UMB Bank n.a. increased its holdings in shares of Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company's stock valued at $58,000 after purchasing an additional 153 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in Armstrong World Industries by 25.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company's stock worth $83,000 after purchasing an additional 130 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Trading Up 0.0 %

Armstrong World Industries stock traded up $0.06 during midday trading on Thursday, hitting $148.06. 189,740 shares of the stock were exchanged, compared to its average volume of 175,864. The stock has a market capitalization of $6.45 billion, a PE ratio of 26.11, a P/E/G ratio of 1.63 and a beta of 1.18. The company has a fifty day simple moving average of $150.74 and a two-hundred day simple moving average of $135.89. 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 52 week low of $96.69 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced 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. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million for the quarter, compared to analysts' expectations of $386.69 million. During the same period last year, the firm posted $1.60 earnings per share. The business's quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.308 dividend. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, November 7th. Armstrong World Industries's dividend payout ratio is 21.69%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AWI. StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Tuesday. Evercore ISI lifted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. UBS Group upped their target price 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. Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Finally, Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. 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, the stock presently has an average rating of "Hold" and an average price target of $140.83.

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.