Hunter Perkins Capital Management LLC Sells 1,975 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Hunter Perkins Capital Management LLC cut its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 25.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,685 shares of the construction company's stock after selling 1,975 shares during the quarter. Hunter Perkins Capital Management LLC's holdings in Armstrong World Industries were worth $801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after acquiring an additional 140 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Armstrong World Industries during the fourth quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Armstrong World Industries by 652.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Armstrong World Industries in the 1st quarter worth approximately $54,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Armstrong World Industries by 90.2% in the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after buying an additional 202 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Loop Capital lowered their price target 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. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a research note on Tuesday. They issued an "overweight" rating and a $200.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Bank of America lifted their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $162.88.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock traded up $2.34 during trading on Friday, hitting $162.92. 598,375 shares of the company's stock traded hands, compared to its average volume of 276,163. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $164.40. The business has a 50-day simple moving average of $151.46 and a 200-day simple moving average of $147.31. The stock has a market capitalization of $7.08 billion, a P/E ratio of 26.07, a PEG ratio of 2.01 and a beta of 1.38. 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 posted 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. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The business had revenue of $382.70 million for the quarter, compared to analysts' expectations of $370.71 million. During the same quarter in the prior year, the business earned $1.38 EPS. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries's dividend payout ratio is currently 19.68%.

About Armstrong World Industries

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.