Armstrong World Industries, Inc. (NYSE:AWI) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,766 shares of the construction company's stock after buying an additional 5,566 shares during the period. Wells Fargo & Company MN owned 0.56% of Armstrong World Industries worth $34,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Madison Investment Advisors LLC bought a new stake in Armstrong World Industries during the fourth quarter valued at about $75,242,000. Norges Bank purchased a new position in Armstrong World Industries during the 4th quarter worth $71,822,000. Raymond James Financial Inc. purchased a new position in shares of Armstrong World Industries in the 4th quarter valued at approximately $8,375,000. State Street Corp grew its holdings in shares of Armstrong World Industries by 3.7% during the third quarter. State Street Corp now owns 1,454,150 shares of the construction company's stock valued at $191,119,000 after buying an additional 51,839 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Armstrong World Industries by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Shares of AWI traded up $0.37 during mid-day trading on Tuesday, reaching $135.40. 95,554 shares of the company's stock were exchanged, compared to its average volume of 269,738. The business's fifty day simple moving average is $144.10 and its 200-day simple moving average is $145.92. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40. The stock has a market capitalization of $5.89 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

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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 (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. The business had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's dividend payout ratio is currently 20.40%.

Analysts Set New Price Targets

AWI has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Truist Financial increased 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. Finally, UBS Group upped 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.