Allianz Asset Management GmbH Lowers Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Allianz Asset Management GmbH lowered its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 43.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 174,606 shares of the construction company's stock after selling 136,117 shares during the period. Allianz Asset Management GmbH owned approximately 0.40% of Armstrong World Industries worth $24,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AWI. Xponance Inc. raised its position in Armstrong World Industries by 9.8% during the 4th quarter. Xponance Inc. now owns 3,195 shares of the construction company's stock worth $452,000 after buying an additional 284 shares during the last quarter. American Century Companies Inc. boosted its stake in Armstrong World Industries by 13.1% during the 4th quarter. American Century Companies Inc. now owns 89,549 shares of the construction company's stock worth $12,656,000 after purchasing an additional 10,340 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Armstrong World Industries during the 4th quarter worth $1,908,000. LPL Financial LLC boosted its position in shares of Armstrong World Industries by 95.9% during the 4th quarter. LPL Financial LLC now owns 30,974 shares of the construction company's stock valued at $4,378,000 after acquiring an additional 15,162 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Armstrong World Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after acquiring an additional 34,579 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

AWI has been the subject of several research analyst reports. Loop Capital lowered their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 target price for the company. Finally, Bank of America increased their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries has a consensus rating of "Hold" and an average price target of $162.88.

Armstrong World Industries Stock Up 0.6%

Shares of AWI stock traded up $1.02 during trading hours on Friday, reaching $168.67. 256,312 shares of the stock were exchanged, compared to its average volume of 276,739. The business's fifty day moving average is $159.83 and its two-hundred day moving average is $150.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. Armstrong World Industries, Inc. has a 12-month low of $117.92 and a 12-month high of $170.85. The firm has a market capitalization of $7.33 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.10 and a beta of 1.37.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share 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 analyst estimates of $370.71 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The business's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. As a group, research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 annualized dividend and a yield of 0.73%. Armstrong World Industries's dividend payout ratio is currently 19.68%.

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.