Rice Hall James & Associates LLC lowered its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,376 shares of the construction company's stock after selling 2,347 shares during the period. Armstrong World Industries comprises approximately 1.6% of Rice Hall James & Associates LLC's holdings, making the stock its 16th largest position. Rice Hall James & Associates LLC owned about 0.45% of Armstrong World Industries worth $27,384,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in shares of Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after purchasing an additional 140 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Armstrong World Industries during the 4th quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $54,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Armstrong World Industries by 90.2% during 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 in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on AWI shares. JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective for the company. Loop Capital dropped 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, 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 research note on Thursday, May 15th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $162.88.
Read Our Latest Research Report on Armstrong World Industries
Armstrong World Industries Trading Down 2.2%
AWI stock traded down $3.77 during midday trading on Tuesday, hitting $164.18. The stock had a trading volume of 175,305 shares, compared to its average volume of 275,527. The firm has a market cap of $7.13 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. Armstrong World Industries, Inc. has a 12-month low of $117.92 and a 12-month high of $170.86. The company's 50-day moving average price is $158.08 and its 200 day moving average price is $148.96.
Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. Armstrong World Industries's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. 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 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 issued a $0.308 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.75%. Armstrong World Industries's dividend payout ratio (DPR) is presently 19.68%.
About Armstrong World Industries
(
Free Report)
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.
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