Assenagon Asset Management S.A. Sells 86,917 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Assenagon Asset Management S.A. trimmed its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 93.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,639 shares of the construction company's stock after selling 86,917 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Armstrong World Industries were worth $794,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Armstrong World Industries in the 4th quarter worth approximately $2,326,000. Principal Securities Inc. lifted its holdings in shares of Armstrong World Industries by 11.1% in the fourth quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock valued at $389,000 after buying an additional 274 shares during the period. Pictet Asset Management Holding SA boosted its stake in Armstrong World Industries by 8.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock valued at $874,000 after buying an additional 456 shares in the last quarter. Deutsche Bank AG boosted its stake in Armstrong World Industries by 48.8% during the fourth quarter. Deutsche Bank AG now owns 39,402 shares of the construction company's stock valued at $5,569,000 after buying an additional 12,927 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Armstrong World Industries by 7.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company's stock worth $1,069,000 after acquiring an additional 555 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Up 0.5%

NYSE AWI traded up $0.68 on Friday, reaching $152.01. The stock had a trading volume of 423,787 shares, compared to its average volume of 274,501. The business has a 50 day moving average price of $149.54 and a 200 day moving average price of $147.21. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $164.40. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 1.92 and a beta of 1.38.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced 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. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The business had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. During the same period in the previous year, the company earned $1.38 EPS. The firm's revenue was up 17.3% on a year-over-year basis. On average, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AWI. Wall Street Zen lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Loop Capital decreased their target price on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Truist Financial boosted their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. The Goldman Sachs Group increased their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Bank of America lifted their price target on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Armstrong World Industries presently has an average rating of "Hold" and an average target price of $157.57.

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.