Oppenheimer Asset Management Inc. Reduces Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Oppenheimer Asset Management Inc. reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 9,638 shares of the construction company’s stock after selling 568 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Armstrong World Industries were worth $1,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AWI. Transcendent Capital Group LLC bought a new position in shares of Armstrong World Industries during the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC purchased a new position in Armstrong World Industries during the fourth quarter worth $32,000. Quent Capital LLC increased its position in Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at $33,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Armstrong World Industries in the 3rd quarter worth about $47,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $152.01 on Tuesday. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The company has a market capitalization of $6.61 billion, a PE ratio of 26.81, a P/E/G ratio of 1.60 and a beta of 1.19. The company has a 50 day moving average price of $148.25 and a 200-day moving average price of $142.94. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. The business had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. As a group, equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.308 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.81%. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AWI shares. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group upped their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group raised 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. Finally, Truist Financial upped their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.