William Blair Investment Management LLC Sells 89,974 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• William Blair Investment Management LLC reduced its stake in Armstrong World Industries by 38.8%, selling 89,974 shares and retaining 142,139 shares, worth approximately $23 million.
• Multiple institutional investors have adjusted their positions in Armstrong World Industries, with a notable 113.6% increase in stake from Wealth Enhancement Advisory Services LLC.
• Armstrong World Industries reported a quarterly earnings per share of $1.36 and declared a quarterly dividend of $0.308 per share, indicating a dividend yield of 0.6%.

William Blair Investment Management LLC cut its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 38.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,139 shares of the construction company's stock after selling 89,974 shares during the quarter. William Blair Investment Management LLC owned about 0.33% of Armstrong World Industries worth $23,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new position in Armstrong World Industries during the first quarter worth $2,508,000. Versor Investments LP bought a new stake in shares of Armstrong World Industries in the first quarter valued at about $596,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Armstrong World Industries by 113.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after acquiring an additional 2,538 shares during the period. Andina Capital Management LLC bought a new stake in shares of Armstrong World Industries in the first quarter valued at about $455,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after acquiring an additional 140 shares during the period. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AWI shares. JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price for the company. Bank of America boosted their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Loop Capital set a $190.00 price target on Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI boosted their price target on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $197.14.

Armstrong World Industries Stock Up 0.7%

Shares of NYSE AWI opened at $199.40 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.00 and a beta of 1.45. Armstrong World Industries, Inc. has a 12 month low of $122.37 and a 12 month high of $202.07. The stock has a 50-day moving average price of $195.90 and a two-hundred day moving average price of $170.06.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Monday, November 6th. The construction company reported $1.36 EPS for the quarter. The firm had revenue of $325.00 million during the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. As a group, analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 7th. Armstrong World Industries's payout ratio is 18.20%.

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.

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