Principal Financial Group Inc. Increases Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Principal Financial Group Inc. grew its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 211,741 shares of the construction company’s stock after buying an additional 5,565 shares during the quarter. Principal Financial Group Inc.’s holdings in Armstrong World Industries were worth $29,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AWI. Transcendent Capital Group LLC purchased a new position in shares of Armstrong World Industries in the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new position in shares of Armstrong World Industries in the 4th quarter valued at about $32,000. Quent Capital LLC boosted its stake in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after buying an additional 170 shares during the period. Fortitude Family Office LLC purchased a new position in shares of Armstrong World Industries in the 4th quarter valued at about $33,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Armstrong World Industries in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Down 1.8 %

NYSE:AWI opened at $146.72 on Friday. The firm has a market cap of $6.40 billion, a P/E ratio of 25.88, a PEG ratio of 1.62 and a beta of 1.19. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $147.60 and its 200-day simple moving average is $141.46. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $164.40.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.84%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.69%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AWI shares. Truist Financial lifted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Loop Capital boosted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus price target of $142.60.

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.