Cannell & Co. Trims Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Cannell & Co. reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,465 shares of the construction company’s stock after selling 150 shares during the quarter. Cannell & Co.’s holdings in Armstrong World Industries were worth $636,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AWI. Mutual of America Capital Management LLC purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at approximately $760,000. Dark Forest Capital Management LP purchased a new stake in shares of Armstrong World Industries in the third quarter valued at approximately $1,630,000. State of Alaska Department of Revenue increased its position in shares of Armstrong World Industries by 211.3% in the fourth quarter. State of Alaska Department of Revenue now owns 40,042 shares of the construction company’s stock valued at $3,936,000 after buying an additional 27,179 shares in the last quarter. Barclays PLC increased its position in shares of Armstrong World Industries by 42.2% in the third quarter. Barclays PLC now owns 24,225 shares of the construction company’s stock valued at $1,743,000 after buying an additional 7,186 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Armstrong World Industries in the third quarter valued at approximately $244,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on AWI shares. Evercore ISI boosted their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research report on Wednesday. Truist Financial boosted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group lifted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $110.17.

Armstrong World Industries Stock Performance

NYSE AWI opened at $114.05 on Thursday. The stock’s fifty day moving average is $120.32 and its two-hundred day moving average is $101.60. The firm has a market capitalization of $4.99 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.79. Armstrong World Industries, Inc. has a fifty-two week low of $62.03 and a fifty-two week high of $125.56.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.15. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, research analysts anticipate that Armstrong World Industries, Inc. will post 5.9 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

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.