Van Berkom & Associates Inc. Sells 27,658 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• Van Berkom & Associates cut its Armstrong World Industries stake by 5.9%, selling 27,658 shares in the third quarter. It still held 437,275 shares, worth about $70.8 million.
• Armstrong reported quarterly EPS of $2.26, below the $2.39 consensus, while revenue of $475.8 million topped expectations and rose 11.9% year over year.
• The company raised its quarterly dividend from $0.339 to $0.373 per share. Analysts maintained a “Moderate Buy” consensus, with an average price target of $203.12.

Van Berkom & Associates Inc. lowered its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 437,275 shares of the construction company's stock after selling 27,658 shares during the quarter. Armstrong World Industries makes up about 2.5% of Van Berkom & Associates Inc.'s holdings, making the stock its 12th biggest position. Van Berkom & Associates Inc. owned 1.05% of Armstrong World Industries worth $70,808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AWI. Western Wealth Management LLC acquired a new position in shares of Armstrong World Industries in the 1st quarter valued at $38,000. Global Retirement Partners LLC purchased a new position in shares of Armstrong World Industries during the second quarter worth about $64,000. Covestor Ltd grew its holdings in shares of Armstrong World Industries by 13.2% during the third quarter. Covestor Ltd now owns 531 shares of the construction company's stock worth $86,000 after purchasing an additional 62 shares during the last quarter. Signaturefd LLC increased its position in shares of Armstrong World Industries by 96.1% during the third quarter. Signaturefd LLC now owns 647 shares of the construction company's stock worth $105,000 after purchasing an additional 317 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Armstrong World Industries by 66.7% during the third quarter. Versant Capital Management Inc now owns 780 shares of the construction company's stock worth $126,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. DA Davidson set a $200.00 price target on Armstrong World Industries in a research report on Wednesday, October 28th. JPMorgan Chase & Co. reduced their price objective on Armstrong World Industries from $220.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, October 28th. Jefferies Financial Group reissued a "hold" rating and issued a $190.00 price objective on shares of Armstrong World Industries in a report on Wednesday, July 29th. UBS Group decreased their price objective on Armstrong World Industries from $203.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, October 28th. Finally, Truist Financial lowered their target price on shares of Armstrong World Industries from $230.00 to $210.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $203.12.

Armstrong World Industries Trading Up 4.5%

Shares of AWI stock opened at $178.89 on Tuesday. The business's 50 day moving average is $165.74 and its two-hundred day moving average is $169.21. Armstrong World Industries, Inc. has a twelve month low of $150.28 and a twelve month high of $206.04. The company has a market capitalization of $7.48 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The construction company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.13). Armstrong World Industries had a return on equity of 38.06% and a net margin of 18.38%. The company had revenue of $475.80 million for the quarter, compared to analysts' expectations of $472.62 million. During the same quarter last year, the company earned $2.05 EPS. Armstrong World Industries's revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts forecast that Armstrong World Industries, Inc. will post 8.32 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be paid a $0.3730 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.49 annualized dividend and a yield of 0.8%. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.3390. Armstrong World Industries's dividend payout ratio is presently 18.16%.

Armstrong World Industries announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 21st that permits the company to buy back $800 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 12.3% of its shares through open market purchases. Share repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Armstrong World Industries Profile

Armstrong World Industries, Inc develops and manufactures ceiling and wall systems for commercial and residential buildings. Its products include acoustical ceiling panels and suspension systems, metal and wood ceilings, wall panels, and architectural specialty products designed for construction, renovation, and interior design projects.

The company serves customers primarily in North America, including building owners, contractors, architects, and distributors. Its products are used in settings such as offices, schools, healthcare facilities, and homes.

Armstrong traces its origins to a cork-cutting business founded by Thomas M.

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