Van Berkom & Associates Inc. Lowers Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Van Berkom & Associates Inc. reduced its stake in Armstrong World Industries by 0.7%, holding 608,640 shares, making it 12th in its holdings and representing 2.7% of the total.
• Armstrong World Industries reported a quarterly earnings of $1.66 EPS, surpassing analysts' expectations of $1.55, and announced a dividend of $0.308 per share set to be paid on August 21st.
• Wall Street analysts have upgraded their ratings for Armstrong World Industries, with a consensus target price of $162.88 and a mix of "buy" and "hold" ratings among multiple brokerages.

Van Berkom & Associates Inc. decreased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 608,640 shares of the construction company's stock after selling 4,451 shares during the period. Armstrong World Industries makes up 2.7% of Van Berkom & Associates Inc.'s holdings, making the stock its 12th biggest holding. Van Berkom & Associates Inc. owned about 1.40% of Armstrong World Industries worth $85,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its position in shares of Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after acquiring an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Armstrong World Industries by 652.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares in the last quarter. Versant Capital Management Inc bought a new stake in Armstrong World Industries in the 1st quarter worth about $54,000. Archer Investment Corp bought a new stake in Armstrong World Industries in the 1st quarter worth about $113,000. Finally, First Horizon Advisors Inc. grew its position in Armstrong World Industries by 29.3% in the 1st quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock worth $126,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Ratings Changes

AWI has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group upped their price objective on shares of Armstrong World Industries from $158.00 to $178.00 and gave the stock a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective for the company. Truist Financial increased their target price on shares of Armstrong World Industries from $175.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Bank of America increased their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock traded up $4.63 on Wednesday, reaching $189.29. 265,516 shares of the company traded hands, compared to its average volume of 310,893. The firm has a market capitalization of $8.22 billion, a PE ratio of 30.23, a PEG ratio of 2.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The company has a 50 day moving average of $160.51 and a 200 day moving average of $150.81. Armstrong World Industries, Inc. has a 52 week low of $117.92 and a 52 week high of $189.45.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. The company had revenue of $424.60 million for the quarter, compared to analysts' expectations of $404.05 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. Armstrong World Industries's revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. Equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's payout ratio is currently 19.68%.

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.