Timucuan Asset Management Inc. FL Sells 2,398 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Timucuan Asset Management Inc. FL reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924,278 shares of the construction company's stock after selling 2,398 shares during the period. Armstrong World Industries accounts for approximately 4.0% of Timucuan Asset Management Inc. FL's portfolio, making the stock its 14th biggest holding. Timucuan Asset Management Inc. FL owned 2.12% of Armstrong World Industries worth $130,628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its position in Armstrong World Industries by 44.1% during the 4th quarter. Sterling Capital Management LLC now owns 1,966 shares of the construction company's stock worth $278,000 after acquiring an additional 602 shares during the last quarter. Argent Trust Co lifted its position in shares of Armstrong World Industries by 25.7% during the 4th quarter. Argent Trust Co now owns 3,331 shares of the construction company's stock worth $471,000 after purchasing an additional 680 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Armstrong World Industries by 0.6% during 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 purchasing an additional 120 shares during the period. Capital Fund Management S.A. acquired a new stake in Armstrong World Industries in the 4th quarter valued at approximately $1,560,000. Finally, Raymond James Financial Inc. bought a new position in Armstrong World Industries in the 4th quarter worth approximately $8,375,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Truist Financial lifted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. UBS Group upped their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted 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 note on Friday, February 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $153.33.

Armstrong World Industries Trading Down 2.9 %

NYSE AWI traded down $3.91 during trading on Wednesday, reaching $131.91. 84,703 shares of the stock traded hands, compared to its average volume of 270,503. The stock's 50-day moving average price is $143.76 and its 200 day moving average price is $145.85. 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 $5.73 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two 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 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.13. The business had revenue of $367.70 million for the quarter, compared to analysts' expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's dividend payout ratio is currently 20.40%.

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.