Envestnet Portfolio Solutions Inc. Sells 2,340 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Portfolio Solutions Inc. decreased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 30.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,225 shares of the construction company's stock after selling 2,340 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Armstrong World Industries were worth $736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AWI. Arizona State Retirement System raised its position in Armstrong World Industries by 0.7% during the 4th quarter. Arizona State Retirement System now owns 12,683 shares of the construction company's stock valued at $1,792,000 after purchasing an additional 82 shares in the last quarter. Elevation Point Wealth Partners LLC increased its stake in shares of Armstrong World Industries by 5.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock valued at $221,000 after buying an additional 84 shares during the period. Tidal Investments LLC raised its holdings in shares of Armstrong World Industries by 1.8% in the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock valued at $740,000 after acquiring an additional 93 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Armstrong World Industries by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company's stock valued at $865,000 after acquiring an additional 97 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Armstrong World Industries by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,106 shares of the construction company's stock worth $2,700,000 after acquiring an additional 120 shares during the period. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $159.09 on Thursday. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $164.40. The business's fifty day simple moving average is $150.93 and its 200-day simple moving average is $147.28. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. The company has a market cap of $6.91 billion, a PE ratio of 25.45, a PEG ratio of 2.00 and a beta of 1.38.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its 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. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The firm's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

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 dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. Armstrong World Industries's payout ratio is currently 19.68%.

Analyst Ratings Changes

A number of research analysts have commented on AWI shares. Bank of America raised their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. 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 report on Wednesday, April 30th. Wall Street Zen downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a research report on Tuesday. They set an "overweight" rating and a $200.00 target price on the stock. Finally, Truist Financial lifted their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. 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, the stock has a consensus rating of "Hold" and an average price target of $162.88.

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.

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