Vanguard Group Inc. Decreases Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Vanguard Group Inc. lessened its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,602,386 shares of the construction company's stock after selling 45,755 shares during the period. Vanguard Group Inc. owned approximately 10.60% of Armstrong World Industries worth $648,384,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after buying an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake 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 purchasing an additional 287 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Armstrong World Industries in the first quarter valued at about $54,000. Archer Investment Corp acquired a new stake in shares of Armstrong World Industries in the first quarter valued at about $113,000. Finally, First Horizon Advisors Inc. increased its position in Armstrong World Industries by 29.3% during the first quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock worth $126,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Armstrong World Industries stock traded down $0.70 during mid-day trading on Friday, hitting $193.46. 402,540 shares of the company's stock traded hands, compared to its average volume of 476,940. Armstrong World Industries, Inc. has a fifty-two week low of $118.14 and a fifty-two week high of $197.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.13 and a beta of 1.43. The firm has a 50 day simple moving average of $169.77 and a two-hundred day simple moving average of $154.58.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $424.60 million for the quarter, compared to analyst estimates of $404.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. Armstrong World Industries's revenue for the quarter was up 16.3% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.308 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Analysts Set New Price Targets

Several analysts recently weighed in on AWI shares. Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the stock a "buy" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. began 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. UBS Group reiterated a "neutral" rating and set a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Evercore ISI boosted their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. Finally, Bank of America upped their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Armstrong World Industries presently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Company 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.