Sei Investments Co. Lowers Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Sei Investments Co. reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,418 shares of the construction company's stock after selling 1,985 shares during the quarter. Sei Investments Co. owned about 0.21% of Armstrong World Industries worth $12,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock worth $111,954,000 after purchasing an additional 34,028 shares during the period. BNP Paribas Financial Markets boosted its stake in Armstrong World Industries by 89.2% during the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company's stock worth $1,447,000 after buying an additional 5,191 shares during the period. Verition Fund Management LLC purchased a new position in Armstrong World Industries during the third quarter worth $1,035,000. Charles Schwab Investment Management Inc. increased its position in Armstrong World Industries by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company's stock valued at $62,074,000 after acquiring an additional 18,333 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Armstrong World Industries by 11.1% in the fourth quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock valued at $389,000 after acquiring an additional 274 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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Armstrong World Industries Trading Up 1.0 %

Shares of Armstrong World Industries stock traded up $1.38 on Wednesday, hitting $143.02. 27,116 shares of the company traded hands, compared to its average volume of 271,987. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a market cap of $6.22 billion, a PE ratio of 25.17, a PEG ratio of 1.60 and a beta of 1.20. The stock's 50 day moving average price is $147.92 and its 200-day moving average price is $145.84. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $364.98 million. During the same period in the previous year, the company posted $1.22 EPS. Armstrong World Industries's revenue was up 17.7% on a year-over-year basis. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries's payout ratio is 20.40%.

Analysts Set New Price Targets

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

About Armstrong World Industries

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.