AQR Capital Management LLC Decreases Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

AQR Capital Management LLC reduced its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 129,533 shares of the construction company's stock after selling 18,590 shares during the quarter. AQR Capital Management LLC owned approximately 0.30% of Armstrong World Industries worth $18,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Armstrong World Industries by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock worth $656,922,000 after buying an additional 34,579 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after purchasing an additional 389,000 shares during the period. Madison Investment Advisors LLC purchased a new position in Armstrong World Industries in the fourth quarter valued at approximately $75,242,000. Finally, Natixis Advisors LLC grew its holdings in Armstrong World Industries by 5.5% during the fourth quarter. Natixis Advisors LLC now owns 519,388 shares of the construction company's stock valued at $73,405,000 after purchasing an additional 27,275 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded up $2.29 during trading on Thursday, hitting $151.48. 288,538 shares of the stock traded hands, compared to its average volume of 275,473. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40. The firm's fifty day moving average is $140.26 and its 200-day moving average is $146.30. 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 (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. The firm 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 17.95% and a return on equity of 40.67%. The business's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.38 earnings per share. Research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 0.81%. Armstrong World Industries's dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AWI shares. The Goldman Sachs Group increased their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Truist Financial boosted their price objective 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. UBS Group raised their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Loop Capital decreased their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $155.50.

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.