Kayne Anderson Rudnick Investment Management LLC Trims Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Kayne Anderson Rudnick Investment Management LLC decreased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,330,071 shares of the construction company's stock after selling 8,634 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.05% of Armstrong World Industries worth $187,979,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. MML Investors Services LLC increased its stake in Armstrong World Industries by 12.8% in the 4th quarter. MML Investors Services LLC now owns 28,807 shares of the construction company's stock valued at $4,071,000 after buying an additional 3,270 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $198,000. Farringdon Capital Ltd. purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at approximately $668,000. NewEdge Advisors LLC lifted its holdings in Armstrong World Industries by 9,641.9% during the fourth quarter. NewEdge Advisors LLC now owns 4,189 shares of the construction company's stock worth $592,000 after acquiring an additional 4,146 shares during the period. Finally, Jump Financial LLC boosted its position in Armstrong World Industries by 29.1% in the fourth quarter. Jump Financial LLC now owns 25,805 shares of the construction company's stock worth $3,647,000 after purchasing an additional 5,815 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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 raised their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Truist Financial boosted 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. Finally, 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $153.33.

Armstrong World Industries Stock Performance

NYSE:AWI traded down $0.61 on Friday, reaching $137.84. 84,388 shares of the company's stock were exchanged, compared to its average volume of 272,114. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The stock has a fifty day simple moving average of $141.15 and a 200-day simple moving average of $145.78. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. During the same period last year, the firm earned $1.22 EPS. Armstrong World Industries's revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business 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. The ex-dividend date is Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.89%. Armstrong World Industries's dividend payout ratio is currently 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.