NewEdge Advisors LLC Has $592,000 Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

NewEdge Advisors LLC boosted its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 9,641.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,189 shares of the construction company's stock after purchasing an additional 4,146 shares during the period. NewEdge Advisors LLC's holdings in Armstrong World Industries were worth $592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new position in Armstrong World Industries during the fourth quarter valued at about $32,000. Quent Capital LLC lifted its holdings in Armstrong World Industries by 288.1% in the 4th 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 bought a new position in shares of Armstrong World Industries during the 4th quarter valued at about $33,000. Twin Tree Management LP acquired a new position in shares of Armstrong World Industries in the 4th quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Armstrong World Industries by 90.2% in the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after purchasing an additional 202 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AWI shares. 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 research report on Wednesday. StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. UBS Group lifted their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Finally, Truist Financial upped 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 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $155.50.

Armstrong World Industries Stock Up 1.4 %

Shares of Armstrong World Industries stock traded up $2.10 on Friday, hitting $148.91. 80,126 shares of the company traded hands, compared to its average volume of 273,725. 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 12-month low of $110.68 and a 12-month high of $164.40. The company has a 50-day moving average price of $140.47 and a 200 day moving average price of $146.04. The company has a market cap of $6.47 billion, a PE ratio of 26.27, a PEG ratio of 1.60 and a beta of 1.20.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The business's quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries's dividend payout ratio (DPR) is presently 20.40%.

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.