Rhumbline Advisers Decreases Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Rhumbline Advisers decreased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,830 shares of the construction company's stock after selling 3,444 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of Armstrong World Industries worth $14,487,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AWI. Quent Capital LLC grew 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 worth $32,000 after acquiring an additional 170 shares during the last quarter. Twin Tree Management LP acquired a new stake in Armstrong World Industries in the fourth quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 valued at $47,000 after buying an additional 287 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Armstrong World Industries during the 1st quarter worth $54,000. Finally, Farther Finance Advisors LLC boosted its holdings in Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after buying an additional 202 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Trading Up 0.6%

Shares of NYSE AWI traded up $0.88 during trading on Wednesday, hitting $155.30. 102,887 shares of the company traded hands, compared to its average volume of 273,222. The firm has a market capitalization of $6.74 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.60 and a beta of 1.38. 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 company has a 50-day moving average price of $146.24 and a 200-day moving average price of $147.69. 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 results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. The company had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm's revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AWI. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Loop Capital reduced their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Truist Financial raised their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Bank of America boosted 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, The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of "Hold" and a consensus price target 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.