Chesapeake Capital Corp IL Sells 3,568 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Chesapeake Capital Corp IL lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 51.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,373 shares of the construction company’s stock after selling 3,568 shares during the period. Chesapeake Capital Corp IL’s holdings in Armstrong World Industries were worth $382,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock worth $155,991,000 after buying an additional 569,824 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Armstrong World Industries by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after buying an additional 517,699 shares during the last quarter. Norges Bank purchased a new position in shares of Armstrong World Industries in the fourth quarter worth about $42,297,000. Los Angeles Capital Management LLC bought a new stake in shares of Armstrong World Industries in the 1st quarter valued at about $39,183,000. Finally, Principal Financial Group Inc. grew its position in Armstrong World Industries by 5,304.3% during the 4th quarter. Principal Financial Group Inc. now owns 228,007 shares of the construction company’s stock worth $22,418,000 after acquiring an additional 223,788 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial boosted their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI raised their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $135.75.

Armstrong World Industries Trading Down 0.4 %

AWI opened at $120.67 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. Armstrong World Industries, Inc. has a 52 week low of $68.35 and a 52 week high of $134.90. The stock has a market cap of $5.27 billion, a PE ratio of 22.68, a PEG ratio of 1.72 and a beta of 1.14. The business has a 50 day moving average of $122.19 and a 200-day moving average of $119.31.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The business had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio 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.