Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 150,590 shares of the construction company's stock after selling 7,038 shares during the period. First Trust Advisors LP owned about 0.35% of Armstrong World Industries worth $21,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AWI. Tidal Investments LLC lifted its position in Armstrong World Industries by 8.0% during the third quarter. Tidal Investments LLC now owns 5,141 shares of the construction company's stock valued at $676,000 after acquiring an additional 381 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Armstrong World Industries by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 22,982 shares of the construction company's stock valued at $3,175,000 after purchasing an additional 7,958 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Armstrong World Industries by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,839 shares of the construction company's stock worth $260,000 after purchasing an additional 316 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Armstrong World Industries during the 4th quarter worth $33,000. Finally, ORG Wealth Partners LLC acquired a new position in Armstrong World Industries during the 4th quarter valued at about $32,000. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AWI has been the subject of several recent analyst reports. StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. 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 note on Wednesday, February 26th. 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 note on Thursday, February 27th. The Goldman Sachs Group lifted their price objective 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. Finally, Loop Capital cut their target price on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research report on Wednesday. Five 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 company currently has a consensus rating of "Hold" and an average target price of $155.50.

Armstrong World Industries Stock Performance

NYSE AWI traded up $2.96 on Friday, reaching $149.77. 89,742 shares of the company's stock traded hands, compared to its average volume of 318,230. The stock has a 50 day moving average price of $140.47 and a 200-day moving average price of $146.04. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 26.42, 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 quick ratio of 1.11 and a current ratio of 1.64. 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 issued its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The firm 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 company's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share. Equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a $0.308 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a yield of 0.82%. Armstrong World Industries's payout ratio is 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.