Oppenheimer Asset Management Inc. Sells 524 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Oppenheimer Asset Management Inc. cut its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 5.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,114 shares of the construction company’s stock after selling 524 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Armstrong World Industries were worth $1,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dynamic Advisor Solutions LLC boosted its holdings in shares of Armstrong World Industries by 194.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company’s stock worth $683,000 after buying an additional 3,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Armstrong World Industries by 113.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company’s stock valued at $672,000 after acquiring an additional 2,538 shares during the period. Elevation Point Wealth Partners LLC boosted its stake in Armstrong World Industries by 5.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company’s stock worth $221,000 after acquiring an additional 84 shares in the last quarter. GAMMA Investing LLC increased its stake in Armstrong World Industries by 9.2% in the first quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock valued at $283,000 after purchasing an additional 169 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Armstrong World Industries by 3.6% during the 1st quarter. Park Avenue Securities LLC now owns 8,375 shares of the construction company’s stock worth $1,180,000 after purchasing an additional 288 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

AWI opened at $162.92 on Friday. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $169.32. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 2.01 and a beta of 1.38. The firm’s fifty day moving average price is $152.04 and its two-hundred day moving average price is $147.37.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $370.71 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries’s payout ratio is 19.68%.

Analyst Ratings Changes

Several research analysts have issued reports on AWI shares. Wall Street Zen lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Bank of America increased their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research note on Tuesday. They set an “overweight” rating and a $200.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Loop Capital decreased their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and a consensus target price of $162.88.

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.