The Alaska State Department of Revenue reduced its position in shares of Armstrong World Industries, Inc. (NYSE: AWI – Get a rating) by 14.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor held 22,536 shares of the construction company after selling 3,874 shares during the period. The Alaska State Department of Revenue holdings of Armstrong World Industries were worth $2,028,000 at the end of the most recent reporting period.
A number of other major investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings of Armstrong World Industries shares by 0.9% during the 4th quarter. Bank of Montreal Can now owns 22,100 shares of the construction company worth $2,580,000 after buying 199 more shares in the last quarter. Loomis Sayles & Co. LP increased its holdings of Armstrong World Industries shares by 0.4% during the fourth quarter. Loomis Sayles & Co. LP now owns 88,822 shares of the construction company worth $10,314,000 after buying 311 additional shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stock position in Armstrong World Industries during Q4 for a value of approximately $28,331,000. Envestnet Asset Management Inc. increased its holdings of Armstrong World Industries shares by 3.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 133,533 shares of the construction company worth $15,506,000 after purchasing an additional 4,513 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Armstrong World Industries during the 4th quarter for a value of approximately $264,000. Institutional investors hold 98.92% of the company’s shares.
Several research analysts have recently weighed in on AWI shares. TheStreet upgraded Armstrong World Industries from a “b-” to a “c+” rating in a Monday, March 21 report. Jefferies Financial Group upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and raised its price target for the company from $101.00 to $111.00 in a Monday, March 21 report . Loop Capital upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a price target of $95.00 on the stock in a Wednesday, June 15 report. They noted that the move was a review call. StockNews.com moved Armstrong World Industries from a “buy” rating to a “hold” rating in a Friday, April 8, report. Finally, Truist Financial reduced its price target on Armstrong World Industries from $124.00 to $110.00 in a report on Wednesday, April 27. Two research analysts rated the stock with a sell rating, one gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $116.38.
Stock Armstrong World Industries opened at $75.86 on Friday. Armstrong World Industries, Inc. has a 12-month low of $73.25 and a 12-month high of $118.14. The stock’s fifty-day simple moving average is $81.76 and its 200-day simple moving average is $92.66. The company has a current ratio of 1.65, a quick ratio of 1.11 and a debt ratio of 1.17. The company has a market capitalization of $3.56 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.15 and a beta of 1.18.
Armstrong Global Industries (NYSE: AWI – Get a rating) last released its quarterly earnings data on Tuesday, April 26. The construction company reported earnings per share of $1.02 for the quarter, missing analyst consensus estimates of $1.13 per ($0.11). Armstrong World Industries had a return on equity of 40.89% and a net margin of 16.90%. The company posted revenue of $282.60 million for the quarter, compared to $289.61 million expected by analysts. During the same period a year earlier, the company posted EPS of $0.84. The company’s revenue increased by 12.2% compared to the same quarter last year. Sell-side analysts expect Armstrong World Industries, Inc. to post earnings per share of 5.09 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 19. Shareholders of record on Thursday, May 5 received a dividend of $0.231 per share. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Wednesday, May 4. Armstrong World Industries’ dividend payout ratio is currently 22.89%.
In other news, please Mark A. Hershey sold 1,365 shares of the company in a trade on Thursday, April 21. The stock was sold at an average price of $95.11, for a total transaction of $129,825.15. Following the sale, the senior vice president now owns 45,053 shares of the company, valued at $4,284,990.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 1.80% of the shares are currently held by insiders.
Armstrong World Industries Company Profile (Get a rating)
Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures and sells ceiling systems primarily for the construction and renovation of residential and commercial buildings in the United States, Canada and Latin America. The Company operates through Mineral Fiber and Architectural Specialties segments.
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