Envestnet Asset Management Inc. Buys 3,854 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Asset Management Inc. lifted its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 335,362 shares of the construction company's stock after purchasing an additional 3,854 shares during the quarter. Envestnet Asset Management Inc. owned 0.77% of Armstrong World Industries worth $47,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new position in shares of Armstrong World Industries in the fourth quarter worth about $32,000. Quent Capital LLC lifted its position in shares of 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 acquiring an additional 170 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Armstrong World Industries in the 4th quarter worth approximately $33,000. Twin Tree Management LP acquired a new position in Armstrong World Industries in the 4th quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC raised its stake in Armstrong World Industries by 90.2% during the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group lifted their target price on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. UBS Group increased 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 report on Wednesday, February 26th. Finally, Truist Financial boosted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $153.33.

Armstrong World Industries Stock Down 0.8 %

Shares of NYSE AWI traded down $1.07 during trading hours on Wednesday, hitting $134.75. The stock had a trading volume of 24,986 shares, compared to its average volume of 305,958. The firm's 50-day moving average price is $143.76 and its two-hundred day moving average price is $145.85. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40. The company has a market capitalization of $5.86 billion, a P/E ratio of 23.77, 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 (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. Analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.91%. Armstrong World Industries's dividend payout ratio (DPR) 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.