Natixis Advisors LLC Sells 163,583 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Natixis Advisors LLC has reduced its holdings in Armstrong World Industries, Inc. by 31.5%, owning 355,805 shares after selling 163,583 shares.
• Armstrong World Industries reported $2.09 EPS for the last quarter, significantly beating analyst estimates of $1.75, with revenue of $424.60 million.
• The company declared a quarterly dividend of $0.308 per share, with a payout ratio of 18.20%, reflecting a dividend yield of 0.7%.

Natixis Advisors LLC lowered its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 31.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 355,805 shares of the construction company's stock after selling 163,583 shares during the quarter. Natixis Advisors LLC owned approximately 0.82% of Armstrong World Industries worth $50,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AWI. Golden State Wealth Management LLC raised its position 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 valued at $39,000 after purchasing an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock valued at $47,000 after acquiring an additional 287 shares during the last quarter. Versant Capital Management Inc bought a new stake in Armstrong World Industries during the first quarter valued at $54,000. Archer Investment Corp bought a new stake in Armstrong World Industries during the first quarter valued at $113,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Armstrong World Industries by 29.3% during the 1st quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock worth $126,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Shares of AWI stock traded up $0.73 on Tuesday, hitting $190.31. 101,480 shares of the stock traded hands, compared to its average volume of 317,723. The company has a market capitalization of $8.23 billion, a PE ratio of 28.18, a PEG ratio of 2.07 and a beta of 1.43. The company's fifty day moving average is $163.24 and its 200 day moving average is $152.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 1-year low of $117.92 and a 1-year high of $191.74.

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, beating the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The business had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. During the same quarter last year, the business posted $1.62 earnings per share. The company's quarterly revenue was up 16.3% on a year-over-year basis. On average, equities research analysts predict 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. Investors of record on Thursday, August 7th will be paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 18.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AWI shares. UBS Group reiterated a "neutral" rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Bank of America raised their price objective 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. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective for the company. 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. Finally, Wall Street Zen upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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.