Nuveen Asset Management LLC Has $13.95 Million Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Nuveen Asset Management LLC trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,684 shares of the construction company's stock after selling 17,702 shares during the period. Nuveen Asset Management LLC owned about 0.23% of Armstrong World Industries worth $13,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AWI. Madison Investment Advisors LLC purchased a new stake in shares of Armstrong World Industries during the fourth quarter worth $75,242,000. Norges Bank purchased a new stake in shares of Armstrong World Industries during the fourth quarter worth $71,822,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Armstrong World Industries by 140.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after acquiring an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Armstrong World Industries by 267.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after acquiring an additional 387,537 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Armstrong World Industries by 25.4% during the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after acquiring an additional 102,895 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded up $0.30 during midday trading on Thursday, hitting $155.79. The company's stock had a trading volume of 63,791 shares, compared to its average volume of 274,989. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.60 and a beta of 1.36. The stock's 50 day simple moving average is $143.95 and its 200 day simple moving average is $147.71. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. 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 issued its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. The company 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 firm's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. As a group, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The company 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. This represents a $1.23 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries's dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AWI shares. Loop Capital cut their price objective on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Wall Street Zen lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Bank of America raised their target price on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Truist Financial raised their target price on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, UBS Group raised their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $157.57.

Armstrong World Industries Company 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.