NFJ Investment Group LLC Decreases Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

NFJ Investment Group LLC lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,654 shares of the construction company’s stock after selling 1,938 shares during the period. NFJ Investment Group LLC owned about 0.06% of Armstrong World Industries worth $3,372,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Burgundy Asset Management Ltd. lifted its position in Armstrong World Industries by 1.5% in the second quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock valued at $130,389,000 after purchasing an additional 17,075 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in Armstrong World Industries by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after buying an additional 14,450 shares during the last quarter. Natixis Advisors LLC boosted its position in Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after buying an additional 67,798 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Armstrong World Industries by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after acquiring an additional 18,333 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Armstrong World Industries by 46.0% in the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after acquiring an additional 145,133 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Performance

Shares of AWI opened at $159.30 on Wednesday. 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 $6.94 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.03 and a beta of 1.15. The business’s 50 day moving average price is $144.32 and its 200-day moving average price is $128.61. Armstrong World Industries, Inc. has a 52 week low of $89.87 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same period in the previous year, the company earned $1.60 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.308 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is currently 21.69%.

Wall Street Analyst Weigh In

AWI has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI boosted their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $140.83.

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.