Assenagon Asset Management S.A. Trims Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Assenagon Asset Management S.A. lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in Armstrong World Industries during the 4th quarter valued at about $2,326,000. Principal Securities Inc. grew its holdings in shares of Armstrong World Industries by 11.1% during 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 last quarter. Pictet Asset Management Holding SA increased its position in shares of 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 acquiring an additional 456 shares in the last quarter. Deutsche Bank AG raised its holdings in Armstrong World Industries by 48.8% in the 4th quarter. Deutsche Bank AG now owns 39,402 shares of the construction company's stock worth $5,569,000 after acquiring an additional 12,927 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Armstrong World Industries by 7.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company's stock valued at $1,069,000 after acquiring an additional 555 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Armstrong World Industries stock traded up $0.65 during mid-day trading on Thursday, reaching $151.10. 421,748 shares of the stock traded hands, compared to its average volume of 275,862. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $164.40. The business's 50-day moving average is $148.83 and its 200-day moving average is $147.41. 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 stock has a market capitalization of $6.56 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The company had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. During the same quarter last year, the firm posted $1.38 earnings per share. The firm's revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were paid a $0.308 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.82%. Armstrong World Industries's dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

AWI has been the subject of a number of research analyst reports. UBS Group lifted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group increased their price objective 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. Loop Capital decreased their target price on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Truist Financial upped their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Wall Street Zen downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.