Royal Bank of Canada Increases Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Royal Bank of Canada increased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,852 shares of the construction company's stock after purchasing an additional 22,053 shares during the quarter. Royal Bank of Canada owned approximately 0.48% of Armstrong World Industries worth $29,799,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quent Capital LLC increased its position in Armstrong World Industries by 288.1% during the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company's stock valued at $32,000 after buying an additional 170 shares in the last quarter. Twin Tree Management LP acquired a new position in Armstrong World Industries during the 4th quarter valued at about $43,000. Farther Finance Advisors LLC increased its position in Armstrong World Industries by 90.2% during the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after buying an additional 202 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Armstrong World Industries by 196.9% during the 4th 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 in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Armstrong World Industries during the 4th quarter valued at about $114,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Stock Up 2.1%

Shares of NYSE:AWI traded up $3.27 during trading on Tuesday, hitting $157.70. The company's stock had a trading volume of 196,154 shares, compared to its average volume of 275,881. The company has a market capitalization of $6.85 billion, a PE ratio of 27.81, a P/E/G ratio of 1.60 and a beta of 1.36. The business has a 50 day moving average price of $143.33 and a two-hundred day moving average price of $147.59. 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 debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

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 firm had revenue of $382.70 million during 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 quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were given a dividend of $0.308 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.78%. Armstrong World Industries's payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AWI shares. Loop Capital reduced their price objective on 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. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Bank of America lifted their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. The Goldman Sachs Group lifted their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial lifted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.