Millennium Management LLC Sells 111,602 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Millennium Management LLC cut its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 86.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,521 shares of the construction company's stock after selling 111,602 shares during the period. Millennium Management LLC's holdings in Armstrong World Industries were worth $2,476,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AWI. Madison Investment Advisors LLC acquired a new stake in shares of Armstrong World Industries during the fourth quarter worth $75,242,000. Norges Bank bought a new stake in shares of Armstrong World Industries in the fourth quarter valued at about $71,822,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Armstrong World Industries by 140.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock valued at $94,126,000 after purchasing an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after purchasing an additional 387,537 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Armstrong World Industries by 25.4% during the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after acquiring an additional 102,895 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of AWI stock traded up $0.48 during trading hours on Tuesday, reaching $154.54. The company's stock had a trading volume of 65,731 shares, compared to its average volume of 274,563. The firm's 50 day simple moving average is $144.53 and its 200-day simple moving average is $147.65. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $382.70 million during the quarter, compared to analysts' expectations of $370.71 million. During the same period in the prior year, the company earned $1.38 EPS. Armstrong World Industries's revenue was up 17.3% compared to the same quarter last year. Sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries's dividend payout ratio (DPR) is currently 19.68%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group upped their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Bank of America upped their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group upped their price objective on 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries currently has an average rating of "Hold" and a consensus target price of $157.57.

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.