Norges Bank Acquires Shares of 508,188 Armstrong World Industries, Inc. (NYSE:AWI)

Norges Bank acquired a new position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 508,188 shares of the construction company's stock, valued at approximately $71,822,000. Norges Bank owned 1.17% of Armstrong World Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Armstrong World Industries by 29.1% during the 4th quarter. JPMorgan Chase & Co. now owns 63,244 shares of the construction company's stock valued at $8,938,000 after purchasing an additional 14,247 shares during the last quarter. Foundation Wealth Management LLC PA acquired a new position in shares of Armstrong World Industries during the fourth quarter valued at about $220,000. Vanguard Group Inc. grew its position in Armstrong World Industries by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock worth $656,922,000 after buying an additional 34,579 shares in the last quarter. LPL Financial LLC increased its stake in Armstrong World Industries by 95.9% during the fourth quarter. LPL Financial LLC now owns 30,974 shares of the construction company's stock valued at $4,378,000 after acquiring an additional 15,162 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Armstrong World Industries in the 4th quarter valued at approximately $1,908,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Armstrong World Industries stock traded down $4.47 during trading hours on Friday, hitting $130.56. 379,820 shares of the stock were exchanged, compared to its average volume of 268,263. The stock has a market capitalization of $5.67 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.60 and a beta of 1.20. The business's 50-day moving average is $147.04 and its two-hundred day moving average is $145.89. 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 12 month low of $110.68 and a 12 month high of $164.40.

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Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly 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. 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 for the quarter, compared to analyst estimates of $364.98 million. During the same period in the prior year, the company earned $1.22 EPS. Armstrong World Industries's revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.94%. Armstrong World Industries's dividend payout ratio (DPR) is currently 20.40%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AWI. The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Truist Financial increased their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, UBS Group increased their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $153.33.

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.