Armstrong World Industries, Inc. (NYSE:AWI) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,648,141 shares of the construction company's stock after buying an additional 34,579 shares during the period. Vanguard Group Inc. owned about 10.66% of Armstrong World Industries worth $656,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC purchased a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $32,000. Quent Capital LLC raised its stake in Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company's stock valued at $32,000 after purchasing an additional 170 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Armstrong World Industries in the 4th quarter valued at $33,000. Twin Tree Management LP acquired a new stake in Armstrong World Industries during the 4th quarter worth $43,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Armstrong World Industries during the third quarter worth $47,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

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

Remove Ads

Armstrong World Industries Trading Down 4.9 %

Shares of Armstrong World Industries stock traded down $7.06 during mid-day trading on Thursday, hitting $136.05. The stock had a trading volume of 89,063 shares, compared to its average volume of 288,740. The firm has a 50-day moving average of $147.75 and a two-hundred day moving average of $145.82. The firm has a market cap of $5.91 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.64 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.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. During the same period in the prior year, the business posted $1.22 earnings per share. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced 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 0.91%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries's dividend payout ratio (DPR) is presently 20.40%.

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.