Vanguard Group Inc. Has $656.92 Million Position in Armstrong World Industries, Inc. (NYSE:AWI)

Vanguard Group Inc. lifted its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,648,141 shares of the construction company’s stock after acquiring an additional 34,579 shares during the quarter. Vanguard Group Inc. owned approximately 10.66% of Armstrong World Industries worth $656,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after purchasing an additional 51,839 shares during the last quarter. Geode Capital Management LLC increased its holdings in Armstrong World Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after buying an additional 34,028 shares during the last quarter. Madison Investment Advisors LLC bought a new position in Armstrong World Industries during the fourth quarter valued at approximately $75,242,000. Natixis Advisors LLC lifted its stake in Armstrong World Industries by 5.5% in the fourth quarter. Natixis Advisors LLC now owns 519,388 shares of the construction company’s stock valued at $73,405,000 after acquiring an additional 27,275 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Armstrong World Industries by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 380,281 shares of the construction company’s stock worth $53,745,000 after acquiring an additional 2,149 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Trading Down 3.3 %

Shares of NYSE:AWI opened at $139.49 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock’s 50-day moving average is $148.27 and its 200-day moving average is $145.62. The company has a market cap of $6.06 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. During the same quarter last year, the firm posted $1.22 EPS. The company’s revenue was up 17.7% on a year-over-year basis. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.88%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s payout ratio is currently 20.40%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AWI shares. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. UBS Group raised their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Truist Financial raised their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus price target of $153.33.

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.