Ameriprise Financial Inc. Has $69.24 Million Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Ameriprise Financial Inc. trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 489,879 shares of the construction company's stock after selling 120,437 shares during the period. Ameriprise Financial Inc. owned approximately 1.12% of Armstrong World Industries worth $69,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. boosted its position in Armstrong World Industries by 11.1% in the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock valued at $389,000 after buying an additional 274 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Armstrong World Industries by 8.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock worth $874,000 after acquiring an additional 456 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Armstrong World Industries by 11.4% in the fourth quarter. Blue Trust Inc. now owns 1,591 shares of the construction company's stock valued at $209,000 after purchasing an additional 163 shares during the period. SG Americas Securities LLC increased its stake in shares of Armstrong World Industries by 639.8% in the fourth quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company's stock valued at $1,022,000 after purchasing an additional 6,251 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Armstrong World Industries by 7.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company's stock valued at $1,069,000 after purchasing an additional 555 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Bank of America raised their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday. Loop Capital lowered their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. UBS Group boosted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, StockNews.com lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $157.57.

Armstrong World Industries Trading Up 0.6%

Armstrong World Industries stock traded up $0.87 during midday trading on Thursday, reaching $158.20. The stock had a trading volume of 68,399 shares, compared to its average volume of 276,299. The firm's fifty day simple moving average is $140.71 and its two-hundred day simple moving average is $146.87. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. During the same quarter in the previous year, the business earned $1.38 EPS. Armstrong World Industries's quarterly revenue was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.308 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.78%. Armstrong World Industries's payout ratio is 19.68%.

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.