Jupiter Asset Management Ltd. Has $24.60 Million Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Armstrong World Industries by 10.5%, selling 20,543 shares, and now owns approximately 0.40% of the company with a total value of around $24.6 million.
• Analysts have a consensus "Moderate Buy" rating on Armstrong World Industries, with a current average price target of $177.13, reflecting growing confidence in the company's performance.
• Armstrong World Industries announced a quarterly dividend of $0.308 per share, which will be paid on August 21st, representing an annualized yield of 0.7%.

Jupiter Asset Management Ltd. decreased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 174,593 shares of the construction company's stock after selling 20,543 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.40% of Armstrong World Industries worth $24,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AWI. LPL Financial LLC raised its position in shares of Armstrong World Industries by 95.9% during the 4th quarter. LPL Financial LLC now owns 30,974 shares of the construction company's stock valued at $4,378,000 after acquiring an additional 15,162 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Armstrong World Industries by 29.1% during the 4th quarter. JPMorgan Chase & Co. now owns 63,244 shares of the construction company's stock valued at $8,938,000 after acquiring an additional 14,247 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Armstrong World Industries by 8.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock valued at $874,000 after acquiring an additional 456 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Armstrong World Industries by 12.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,714 shares of the construction company's stock valued at $1,090,000 after acquiring an additional 869 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Armstrong World Industries by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 28,478 shares of the construction company's stock valued at $4,025,000 after buying an additional 5,496 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Down 0.3%

NYSE AWI traded down $0.58 on Thursday, reaching $189.98. The company had a trading volume of 10,256 shares, compared to its average volume of 317,807. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. Armstrong World Industries, Inc. has a 1-year low of $117.92 and a 1-year high of $192.00. The company's fifty day moving average is $164.60 and its 200-day moving average is $152.56.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. The firm had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. On average, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 18.20%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AWI. UBS Group restated a "neutral" rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Evercore ISI upped their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. Truist Financial set a $195.00 price objective on shares of Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. Bank of America upped their price objective 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. Finally, JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries has an average rating of "Moderate Buy" and an average target price of $177.13.

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.