National Bank of Canada FI Sells 44,577 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

National Bank of Canada FI reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 30.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the construction company’s stock after selling 44,577 shares during the period. National Bank of Canada FI’s holdings in Armstrong World Industries were worth $9,758,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AWI. Vanguard Group Inc. raised its holdings in shares of Armstrong World Industries by 1.2% in the third quarter. Vanguard Group Inc. now owns 4,245,468 shares of the construction company’s stock valued at $305,674,000 after purchasing an additional 51,504 shares during the last quarter. London Co. of Virginia boosted its stake in shares of Armstrong World Industries by 1.7% in the 3rd quarter. London Co. of Virginia now owns 2,622,900 shares of the construction company’s stock worth $188,849,000 after buying an additional 45,095 shares during the last quarter. River Road Asset Management LLC grew its holdings in shares of Armstrong World Industries by 2.1% in the third quarter. River Road Asset Management LLC now owns 2,079,825 shares of the construction company’s stock valued at $149,747,000 after acquiring an additional 42,927 shares in the last quarter. FMR LLC increased its position in shares of Armstrong World Industries by 25.9% during the third quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock valued at $117,068,000 after acquiring an additional 334,065 shares during the last quarter. Finally, Cooke & Bieler LP lifted its holdings in Armstrong World Industries by 10.2% during the fourth quarter. Cooke & Bieler LP now owns 1,316,653 shares of the construction company’s stock worth $129,453,000 after acquiring an additional 121,586 shares during the period. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AWI shares. Evercore ISI raised their price target on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Truist Financial boosted their price objective on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, 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, May 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $110.17.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $116.23 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.22. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The company’s 50-day moving average is $119.61 and its 200 day moving average is $103.26. The stock has a market capitalization of $5.09 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.74 and a beta of 1.12.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $319.44 million. During the same quarter in the prior year, the company earned $1.12 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

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.