Prudential Financial Inc. trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,492 shares of the construction company's stock after selling 45,904 shares during the period. Prudential Financial Inc. owned approximately 0.40% of Armstrong World Industries worth $24,378,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new stake in shares of Armstrong World Industries in the 4th quarter valued at $32,000. Quent Capital LLC grew its stake in shares of Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock worth $32,000 after purchasing an additional 170 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Armstrong World Industries in the fourth quarter valued at $33,000. Twin Tree Management LP acquired a new stake in Armstrong World Industries in the fourth quarter valued at $43,000. Finally, Point72 DIFC Ltd purchased a new stake in Armstrong World Industries during the 3rd quarter worth about $47,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group raised their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective 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. Finally, Truist Financial increased their target price on shares of 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries has an average rating of "Hold" and a consensus target price of $153.33.
View Our Latest Analysis on AWI
Armstrong World Industries Stock Performance
Shares of AWI stock traded up $1.21 during trading hours on Monday, hitting $140.76. The stock had a trading volume of 426,369 shares, compared to its average volume of 273,263. 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 firm has a market capitalization of $6.12 billion, a PE ratio of 24.82, a PEG ratio of 1.60 and a beta of 1.25. The stock's 50 day moving average is $148.11 and its 200 day moving average is $145.74. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40.
Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. The firm had revenue of $367.70 million during the quarter, compared to analysts' expectations of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 EPS. As a group, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.
Armstrong World Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.88%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's dividend payout ratio is presently 20.40%.
Armstrong World Industries Company Profile
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Free Report)
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.
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