Hsbc Holdings PLC Sells 8,596 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Hsbc Holdings PLC cut its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,319 shares of the construction company's stock after selling 8,596 shares during the quarter. Hsbc Holdings PLC's holdings in Armstrong World Industries were worth $3,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AWI. ORG Wealth Partners LLC bought a new position in shares of Armstrong World Industries during the 4th quarter worth approximately $32,000. Quent Capital LLC increased its stake 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 buying an additional 170 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Armstrong World Industries during the 4th quarter worth about $33,000. Twin Tree Management LP acquired a new position in shares of Armstrong World Industries during the 4th quarter worth about $43,000. Finally, Farther Finance Advisors LLC grew 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 valued at $60,000 after acquiring an additional 202 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Shares of AWI traded up $1.47 during trading hours on Monday, hitting $151.40. The company had a trading volume of 37,397 shares, compared to its average volume of 318,287. The business has a fifty day moving average of $140.41 and a 200-day moving average of $146.19. 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 firm has a market cap of $6.57 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. The company had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 earnings per share. Equities analysts anticipate 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. Stockholders of record on Thursday, May 8th will be given a $0.308 dividend. 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 payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AWI. StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Truist Financial raised their target price 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. The Goldman Sachs Group upped their price target 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. Loop Capital decreased their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group upped their target price 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Armstrong World Industries has an average rating of "Hold" and a consensus 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.