William Blair Investment Management LLC Sells 23,495 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

William Blair Investment Management LLC cut its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,527 shares of the construction company's stock after selling 23,495 shares during the period. William Blair Investment Management LLC owned approximately 0.56% of Armstrong World Industries worth $34,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Armstrong World Industries by 230.1% during the third quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company's stock valued at $5,708,000 after purchasing an additional 30,273 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Armstrong World Industries by 4.3% during the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company's stock valued at $245,000 after purchasing an additional 76 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Armstrong World Industries by 3.4% during the third quarter. Thrivent Financial for Lutherans now owns 133,383 shares of the construction company's stock valued at $17,530,000 after purchasing an additional 4,334 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Armstrong World Industries by 25.8% during the third quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company's stock valued at $83,000 after purchasing an additional 130 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 18,333 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts recently commented on AWI shares. The Goldman Sachs Group increased their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. UBS Group upped their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, 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 research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Armstrong World Industries currently has a consensus rating of "Hold" and a consensus target price of $153.33.

Armstrong World Industries Stock Performance

NYSE AWI traded down $0.19 during midday trading on Friday, hitting $140.88. The company had a trading volume of 561,672 shares, compared to its average volume of 266,386. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.60 and a beta of 1.25. The firm has a fifty day simple moving average of $148.54 and a two-hundred day simple moving average of $144.54. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business's quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. Equities 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's payout ratio is 20.40%.

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.