Bank of America Corp DE Sells 5,256 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Bank of America Corp DE decreased its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 635,168 shares of the construction company's stock after selling 5,256 shares during the quarter. Bank of America Corp DE owned 1.46% of Armstrong World Industries worth $89,768,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tealwood Asset Management Inc. increased its stake in Armstrong World Industries by 0.8% in the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company's stock valued at $1,313,000 after buying an additional 71 shares during the last quarter. Arizona State Retirement System increased its stake in Armstrong World Industries by 0.7% in the 4th quarter. Arizona State Retirement System now owns 12,683 shares of the construction company's stock valued at $1,792,000 after buying an additional 82 shares during the last quarter. Blue Trust Inc. increased its stake in Armstrong World Industries by 6.7% in the 4th quarter. Blue Trust Inc. now owns 1,523 shares of the construction company's stock valued at $215,000 after buying an additional 95 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Armstrong World Industries by 1.7% in the 4th quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company's stock valued at $865,000 after buying an additional 97 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Armstrong World Industries by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,106 shares of the construction company's stock valued at $2,700,000 after buying an additional 120 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of NYSE AWI traded up $1.23 during mid-day trading on Friday, reaching $160.16. 213,620 shares of the company were exchanged, compared to its average volume of 275,824. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $6.96 billion, a PE ratio of 28.25, a PEG ratio of 1.60 and a beta of 1.36. The company's 50 day moving average price is $141.38 and its 200 day moving average price is $147.20.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same period in the previous year, the firm posted $1.38 EPS. The firm's revenue was up 17.3% compared to the same quarter last year. Sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries's dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AWI shares. Truist Financial raised their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. StockNews.com lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group raised their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note 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 for the company in a research note on Wednesday, April 30th. Finally, Bank of America lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $157.57.

Armstrong World Industries Profile

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.