Envestnet Portfolio Solutions Inc. Cuts Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 30.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,225 shares of the construction company's stock after selling 2,340 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Armstrong World Industries were worth $736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its holdings in Armstrong World Industries by 1.7% during the fourth quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company's stock worth $865,000 after purchasing an additional 97 shares during the last quarter. Ieq Capital LLC purchased a new position in Armstrong World Industries during the fourth quarter worth about $502,000. Y Intercept Hong Kong Ltd boosted its holdings in Armstrong World Industries by 12.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 6,553 shares of the construction company's stock worth $926,000 after purchasing an additional 707 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Armstrong World Industries by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 380,281 shares of the construction company's stock worth $53,745,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Armstrong World Industries during the fourth quarter worth about $4,135,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. 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 lowered 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 report on Wednesday, April 30th. Finally, Bank of America lifted their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Armstrong World Industries has an average rating of "Hold" and an average target price of $162.88.

Armstrong World Industries Price Performance

NYSE:AWI traded up $2.34 during mid-day trading on Friday, hitting $162.92. 598,375 shares of the stock traded hands, compared to its average volume of 275,881. The business's 50-day moving average price is $152.04 and its 200 day moving average price is $147.24. The company has a market cap of $7.08 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $169.32. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.67.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. The company 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%. Armstrong World Industries's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.308 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.76%. Armstrong World Industries's dividend 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.