Modern Wealth Management LLC Has $404,000 Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Modern Wealth Management LLC trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 63.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,668 shares of the construction company's stock after selling 4,671 shares during the period. Modern Wealth Management LLC's holdings in Armstrong World Industries were worth $404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries during the 4th quarter valued at approximately $32,000. Quent Capital LLC boosted its position in shares of Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock valued at $32,000 after acquiring an additional 170 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of Armstrong World Industries in the fourth quarter worth $33,000. Twin Tree Management LP bought a new position in Armstrong World Industries during the fourth quarter worth $43,000. Finally, Point72 DIFC Ltd bought a new position in Armstrong World Industries during the third quarter worth $47,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AWI has been the topic of several research analyst reports. The Goldman Sachs Group raised 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 report on Friday, February 28th. UBS Group boosted their price target on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Truist Financial boosted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $153.33.

Armstrong World Industries Price Performance

AWI traded up $0.68 during midday trading on Tuesday, reaching $141.56. 269,808 shares of the company's stock were exchanged, compared to its average volume of 272,940. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The business has a 50-day simple moving average of $147.92 and a two-hundred day simple moving average of $145.84. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. During the same quarter last year, the company earned $1.22 EPS. Armstrong World Industries's revenue was up 17.7% on a year-over-year basis. As a group, research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

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

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.