Bank of New York Mellon Corp Sells 9,627 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Bank of New York Mellon Corp reduced its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 370,654 shares of the construction company's stock after selling 9,627 shares during the period. Bank of New York Mellon Corp owned 0.85% of Armstrong World Industries worth $52,218,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after buying an additional 140 shares in the last quarter. Twin Tree Management LP bought a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Armstrong World Industries by 652.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Armstrong World Industries in the first quarter worth approximately $54,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after buying an additional 202 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

Shares of AWI traded down $1.56 during mid-day trading on Friday, reaching $168.05. The stock had a trading volume of 179,989 shares, compared to its average volume of 276,583. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.11 and a beta of 1.37. Armstrong World Industries, Inc. has a 12 month low of $117.92 and a 12 month high of $170.86. The business has a fifty day moving average of $157.44 and a 200 day moving average of $148.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.60.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly 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 business had revenue of $382.70 million during 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 company's revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. Equities 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, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.73%. Armstrong World Industries's dividend payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AWI shares. Loop Capital decreased their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Bank of America boosted their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $162.88.

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.