River Road Asset Management LLC Has $59.48 Million Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

River Road Asset Management LLC cut its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 39.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,551 shares of the construction company's stock after selling 294,756 shares during the quarter. River Road Asset Management LLC owned about 1.03% of Armstrong World Industries worth $59,479,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Armstrong World Industries during the 1st quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in Armstrong World Industries during the third quarter worth approximately $31,000. First Horizon Advisors Inc. raised its stake in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company's stock valued at $57,000 after buying an additional 125 shares during the period. UMB Bank n.a. lifted its position 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 buying an additional 153 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company's stock valued at $73,000 after buying an additional 95 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

NYSE:AWI traded up $4.95 during trading hours on Tuesday, reaching $148.03. 310,688 shares of the company were exchanged, compared to its average volume of 310,699. The business has a 50 day moving average of $132.26 and a 200 day moving average of $123.00. Armstrong World Industries, Inc. has a 1-year low of $79.39 and a 1-year high of $149.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a market capitalization of $6.45 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.79 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company's revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. Research analysts forecast that Armstrong World Industries, Inc. will post 6.19 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.308 dividend. The ex-dividend date is Thursday, November 7th. This is a boost 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%. Armstrong World Industries's payout ratio is presently 21.69%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AWI. Jefferies Financial Group increased their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Evercore ISI lifted their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. UBS Group increased their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Loop Capital raised their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $140.83.

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.