Oak Thistle LLC Reduces Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Oak Thistle LLC decreased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 50.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,037 shares of the construction company's stock after selling 3,083 shares during the period. Oak Thistle LLC's holdings in Armstrong World Industries were worth $429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Armstrong World Industries during the 3rd quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in Armstrong World Industries in the third quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in Armstrong World Industries during the fourth quarter valued at $32,000. Fortitude Family Office LLC bought a new stake in shares of Armstrong World Industries during the 4th quarter valued at $33,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Armstrong World Industries in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded up $0.94 during trading hours on Friday, hitting $149.04. The company's stock had a trading volume of 3,919 shares, compared to its average volume of 160,102. The company has a market cap of $6.50 billion, a PE ratio of 26.37, a PEG ratio of 1.63 and a beta of 1.18. 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 business has a 50 day moving average price of $150.65 and a two-hundred day moving average price of $135.97. Armstrong World Industries, Inc. has a 12-month low of $96.69 and a 12-month high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the firm posted $1.60 EPS. The company's revenue was up 11.3% on a year-over-year basis. Analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, November 7th. This is a boost from Armstrong World Industries's previous quarterly dividend of $0.28. Armstrong World Industries's dividend payout ratio (DPR) is currently 21.69%.

Wall Street Analysts Forecast Growth

AWI has been the topic of a number of recent research reports. Evercore ISI upped their price objective 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. Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Tuesday. Loop Capital upped their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $140.83.

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.