Burgundy Asset Management Ltd. Increases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Burgundy Asset Management Ltd. boosted its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,198,801 shares of the construction company's stock after acquiring an additional 19,787 shares during the period. Armstrong World Industries accounts for 1.7% of Burgundy Asset Management Ltd.'s holdings, making the stock its 22nd biggest position. Burgundy Asset Management Ltd. owned 2.75% of Armstrong World Industries worth $169,427,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC increased its position in Armstrong World Industries by 10.9% during the 4th quarter. Ballentine Partners LLC now owns 1,918 shares of the construction company's stock valued at $271,000 after buying an additional 188 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Armstrong World Industries by 639.8% during the fourth quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company's stock valued at $1,022,000 after acquiring an additional 6,251 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Armstrong World Industries in the 4th quarter valued at approximately $233,000. Blue Trust Inc. raised its position in shares of Armstrong World Industries by 11.4% in the 4th quarter. Blue Trust Inc. now owns 1,591 shares of the construction company's stock valued at $209,000 after purchasing an additional 163 shares during the last quarter. Finally, KBC Group NV boosted its stake in Armstrong World Industries by 62.1% in the 4th quarter. KBC Group NV now owns 1,822 shares of the construction company's stock worth $258,000 after purchasing an additional 698 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Trading Down 1.5%

NYSE AWI traded down $2.43 during trading hours on Wednesday, reaching $155.48. The company had a trading volume of 27,852 shares, compared to its average volume of 274,906. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The stock has a market capitalization of $6.75 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The stock has a 50-day moving average of $143.66 and a 200 day moving average of $147.66. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

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 for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The firm had revenue of $382.70 million during the quarter, compared to analysts' expectations of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.38 EPS. As a group, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued 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 was Thursday, May 8th. Armstrong World Industries's dividend payout ratio (DPR) is 19.68%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AWI. Loop Capital cut their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen cut Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group boosted 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. Truist Financial upped their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of "Hold" and a consensus 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.