Y Intercept Hong Kong Ltd Sells 3,872 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in Armstrong World Industries by 59.1%, now owning 2,681 shares valued at $378,000.
• Armstrong World Industries reported earnings per share (EPS) of $1.66, exceeding analysts' estimates of $1.55, with revenue of $382.70 million, a 17.3% increase year-over-year.
• The company announced a quarterly dividend of $0.308 per share, reflecting an annualized dividend yield of 0.73% and a payout ratio of 19.68%.

Y Intercept Hong Kong Ltd decreased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 59.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,681 shares of the construction company's stock after selling 3,872 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Armstrong World Industries were worth $378,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Armstrong World Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after buying an additional 34,579 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after buying an additional 19,787 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock valued at $125,444,000 after buying an additional 35,738 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after purchasing an additional 389,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Armstrong World Industries by 267.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after purchasing an additional 387,537 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

AWI has been the topic of several research analyst reports. Truist Financial set a $195.00 price target on shares of Armstrong World Industries and gave the stock a "buy" rating in a research note on Wednesday. Evercore ISI boosted their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research note on Wednesday. Bank of America boosted 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 note on Thursday, May 15th. Wall Street Zen upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries presently has a consensus rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Price Performance

Shares of NYSE AWI traded down $0.35 during mid-day trading on Friday, hitting $187.83. 122,717 shares of the company's stock traded hands, compared to its average volume of 315,897. The company's 50-day moving average is $161.86 and its two-hundred day moving average is $151.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.10. The company has a market capitalization of $8.13 billion, a P/E ratio of 27.79, a PEG ratio of 2.32 and a beta of 1.37. Armstrong World Industries, Inc. has a 1 year low of $117.92 and a 1 year high of $191.74.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.75 by $0.34. The company had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. On average, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Armstrong World Industries 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.