KLP Kapitalforvaltning AS Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

KLP Kapitalforvaltning AS purchased a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,500 shares of the construction company's stock, valued at approximately $1,908,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Madison Investment Advisors LLC purchased a new position in shares of Armstrong World Industries during the fourth quarter valued at approximately $75,242,000. Raymond James Financial Inc. bought a new stake in Armstrong World Industries in the fourth quarter valued at $8,375,000. State Street Corp increased its position in Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company's stock valued at $191,119,000 after purchasing an additional 51,839 shares during the period. Geode Capital Management LLC raised its holdings in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock worth $111,954,000 after purchasing an additional 34,028 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Armstrong World Industries by 11.0% in the 4th quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company's stock worth $43,914,000 after purchasing an additional 30,878 shares during the period. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AWI. UBS Group boosted their price target 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. The Goldman Sachs Group upped their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Truist Financial raised 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. Finally, StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $153.33.

Remove Ads

Armstrong World Industries Stock Up 0.5 %

Shares of Armstrong World Industries stock traded up $0.68 during midday trading on Tuesday, hitting $141.56. The company had a trading volume of 269,808 shares, compared to its average volume of 272,940. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock has a market capitalization of $6.15 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a 50 day moving average of $147.92 and a 200 day moving average of $145.84.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to analysts' expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's payout ratio is 20.40%.

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.