Envestnet Asset Management Inc. Sells 4,803 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Asset Management Inc. cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,559 shares of the construction company's stock after selling 4,803 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.76% of Armstrong World Industries worth $46,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Armstrong World Industries during the fourth quarter worth approximately $71,822,000. Adage Capital Partners GP L.L.C. grew its position in shares of Armstrong World Industries by 140.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after purchasing an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Armstrong World Industries by 267.1% during the 4th 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 during the period. GAMMA Investing LLC lifted its holdings in shares of Armstrong World Industries by 15,282.7% during the 1st quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company's stock worth $398,530,000 after acquiring an additional 281,048 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Armstrong World Industries by 25.4% during the 4th 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 during the period. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AWI has been the topic of a number of research analyst reports. 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. Loop Capital reduced 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. Finally, JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $162.88.

Armstrong World Industries Stock Down 0.2%

Shares of NYSE AWI traded down $0.35 during mid-day trading on Monday, reaching $167.72. 8,194 shares of the company's stock traded hands, compared to its average volume of 275,529. The stock has a market cap of $7.28 billion, a P/E ratio of 26.95, a PEG ratio of 2.11 and a beta of 1.37. The business has a 50-day simple moving average of $157.44 and a 200 day simple moving average of $148.68. Armstrong World Industries, Inc. has a 1-year low of $117.92 and a 1-year high of $170.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, beating 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 18.25% and a return on equity of 39.37%. The business's revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. On average, analysts expect 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. Stockholders 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 dividend yield of 0.73%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's dividend payout ratio is currently 19.68%.

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.