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

Norges Bank purchased a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 508,188 shares of the construction company's stock, valued at approximately $71,822,000. Norges Bank owned about 1.17% of Armstrong World Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 34,579 shares during the last quarter. State Street Corp lifted 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 worth $191,119,000 after buying an additional 51,839 shares in the last quarter. Geode Capital Management LLC grew its holdings in Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock worth $111,954,000 after acquiring an additional 34,028 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in Armstrong World Industries in the 4th quarter valued at about $75,242,000. Finally, Natixis Advisors LLC raised its stake in shares of Armstrong World Industries by 5.5% in the fourth quarter. Natixis Advisors LLC now owns 519,388 shares of the construction company's stock worth $73,405,000 after acquiring an additional 27,275 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Armstrong World Industries Trading Down 1.8 %

Shares of NYSE:AWI traded down $2.36 during midday trading on Monday, hitting $128.23. The company had a trading volume of 501,255 shares, compared to its average volume of 269,195. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The firm has a fifty day simple moving average of $146.63 and a 200 day simple moving average of $145.98. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.60 and a beta of 1.20.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $1.22 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries's dividend payout ratio is currently 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.