Geode Capital Management LLC Acquires 35,738 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Geode Capital Management LLC lifted its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 887,358 shares of the construction company's stock after buying an additional 35,738 shares during the period. Geode Capital Management LLC owned about 2.04% of Armstrong World Industries worth $125,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AWI. Madison Investment Advisors LLC acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at about $75,242,000. Norges Bank bought a new stake in shares of Armstrong World Industries during the 4th quarter worth $71,822,000. Raymond James Financial Inc. acquired a new position in Armstrong World Industries during the 4th quarter worth $8,375,000. State Street Corp boosted its stake in Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company's stock valued at $191,119,000 after purchasing an additional 51,839 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Armstrong World Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after acquiring an additional 34,579 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of AWI stock traded up $1.01 during trading hours on Monday, hitting $135.75. 9,351 shares of the company's stock were exchanged, compared to its average volume of 269,536. The stock's 50-day moving average is $144.45 and its 200-day moving average is $145.89. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries's dividend payout ratio is 20.40%.

Analyst Ratings Changes

AWI has been the topic of several research reports. UBS Group boosted their price target on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Truist Financial boosted their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group increased their price target on shares of 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, StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of "Hold" and a consensus target price of $153.33.

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.