Handelsbanken Fonder AB Decreases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Handelsbanken Fonder AB lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 7.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,930 shares of the construction company’s stock after selling 900 shares during the period. Handelsbanken Fonder AB’s holdings in Armstrong World Industries were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after buying an additional 51,839 shares during the period. Geode Capital Management LLC increased its holdings in 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 acquiring an additional 34,028 shares in the last quarter. Natixis Advisors LLC increased its holdings in Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after acquiring an additional 67,798 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares during the last quarter. Finally, Harvey Partners LLC boosted its stake in Armstrong World Industries by 0.4% during the 3rd quarter. Harvey Partners LLC now owns 230,500 shares of the construction company’s stock worth $30,295,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

AWI has been the topic of several recent research reports. Loop Capital lifted their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Truist Financial upped their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group boosted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $142.60.

Armstrong World Industries Stock Performance

Shares of AWI opened at $153.22 on Wednesday. The stock has a 50 day moving average price of $147.51 and a 200 day moving average price of $142.04. 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 company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. 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) last announced its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. The firm 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 firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 earnings per share. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s payout ratio is currently 21.69%.

Armstrong World Industries 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.