Northern Trust Corp Grows Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Northern Trust Corp increased its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,289 shares of the construction company's stock after purchasing an additional 54,923 shares during the quarter. Northern Trust Corp owned 0.66% of Armstrong World Industries worth $40,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AWI. Madison Investment Advisors LLC acquired a new position in Armstrong World Industries in the 4th quarter worth about $75,242,000. Norges Bank bought a new position in Armstrong World Industries during the fourth quarter valued at about $71,822,000. Adage Capital Partners GP L.L.C. boosted its stake in 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 buying an additional 389,000 shares in the last quarter. Invesco Ltd. raised its position in Armstrong World Industries by 25.4% in the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after purchasing an additional 102,895 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Armstrong World Industries in the fourth quarter valued at $8,375,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Trading Up 0.6 %

Armstrong World Industries stock traded up $0.95 during trading hours on Friday, reaching $152.50. 375,772 shares of the company's stock were exchanged, compared to its average volume of 276,428. The firm has a market capitalization of $6.62 billion, a PE ratio of 26.90, a PEG ratio of 1.60 and a beta of 1.36. The firm's 50 day simple moving average is $140.31 and its 200 day simple moving average is $146.58. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $1.38 earnings per share. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a yield of 0.81%. Armstrong World Industries's payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

AWI has been the subject of several research reports. Loop Capital lowered their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group raised their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective 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, Truist Financial increased their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $155.50.

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.