Armstrong World Industries, Inc. (NYSE:AWI) is London Co. of Virginia's 7th Largest Position

London Co. of Virginia reduced its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,798,807 shares of the construction company's stock after selling 19,625 shares during the period. Armstrong World Industries comprises approximately 2.2% of London Co. of Virginia's portfolio, making the stock its 7th largest position. London Co. of Virginia owned approximately 6.42% of Armstrong World Industries worth $395,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AWI. Madison Investment Advisors LLC acquired a new stake in Armstrong World Industries during the 4th quarter worth $75,242,000. Norges Bank purchased a new position in shares of Armstrong World Industries during the fourth quarter worth about $71,822,000. Adage Capital Partners GP L.L.C. increased its position in shares of Armstrong World Industries by 140.4% during the fourth 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. Alyeska Investment Group L.P. increased its position in shares of Armstrong World Industries by 267.1% during the fourth 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. Finally, Invesco Ltd. lifted its holdings in shares of Armstrong World Industries by 25.4% in the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock valued at $71,773,000 after purchasing an additional 102,895 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on AWI shares. StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Bank of America increased 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. UBS Group lifted their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, Truist Financial upped their target price 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries presently has an average rating of "Hold" and a consensus price target of $157.57.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $1.36 during mid-day trading on Thursday, hitting $158.69. 223,666 shares of the company were exchanged, compared to its average volume of 276,897. The stock has a 50 day simple moving average of $140.71 and a 200-day simple moving average of $146.87. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The company had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries's dividend payout ratio is presently 19.68%.

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.