Armstrong World Industries, Inc. (NYSE:AWI) Stock Position Reduced by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,330,071 shares of the construction company's stock after selling 8,634 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 3.05% of Armstrong World Industries worth $187,979,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AWI. Quent Capital LLC boosted its position in shares of Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock valued at $32,000 after purchasing an additional 170 shares in the last quarter. Twin Tree Management LP purchased a new stake in Armstrong World Industries during the fourth quarter valued at $43,000. Farther Finance Advisors LLC lifted 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 purchasing an additional 202 shares during the period. Smartleaf Asset Management LLC grew its position in Armstrong World Industries by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company's stock valued at $80,000 after buying an additional 376 shares during the period. Finally, Wealthfront Advisers LLC bought a new position in Armstrong World Industries in the fourth quarter worth approximately $114,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

AWI stock traded down $0.96 during trading on Friday, hitting $155.02. The company had a trading volume of 43,639 shares, compared to its average volume of 274,486. The firm has a 50-day moving average price of $144.14 and a 200-day moving average price of $147.72. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.73 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. On average, analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Thursday, May 8th. Armstrong World Industries's dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AWI. Wall Street Zen cut Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group lifted their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Truist Financial raised their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Loop Capital lowered their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group lifted 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $157.57.

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.