Handelsbanken Fonder AB Sells 900 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Handelsbanken Fonder AB lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,930 shares of the construction company’s stock after selling 900 shares during the period. Handelsbanken Fonder AB’s holdings in Armstrong World Industries were worth $1,686,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Tealwood Asset Management Inc. boosted its position in Armstrong World Industries by 0.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company’s stock valued at $1,313,000 after buying an additional 71 shares during the period. OneDigital Investment Advisors LLC lifted its position in Armstrong World Industries by 4.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after acquiring an additional 76 shares during the period. US Bancorp DE increased its stake in Armstrong World Industries by 13.9% during the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. increased its stake in Armstrong World Industries by 6.7% during the 4th quarter. Blue Trust Inc. now owns 1,523 shares of the construction company’s stock valued at $215,000 after purchasing an additional 95 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in Armstrong World Industries by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company’s stock valued at $865,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AWI. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI boosted their target price 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. 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. Loop Capital lifted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus target price of $142.60.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $153.22 on Wednesday. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.60 and a beta of 1.19. The firm’s fifty day moving average is $147.51 and its 200 day moving average is $142.04. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. 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 posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. The business had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. Sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed 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. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.69%.

Armstrong World Industries 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.