Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lowered its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,428,071 shares of the construction company's stock after selling 651,754 shares during the quarter. Armstrong World Industries makes up about 1.9% of River Road Asset Management LLC's investment portfolio, making the stock its 9th largest holding. River Road Asset Management LLC owned approximately 3.23% of Armstrong World Industries worth $140,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of Armstrong World Industries by 182.0% in the 3rd quarter. Signaturefd LLC now owns 392 shares of the construction company's stock valued at $28,000 after purchasing an additional 253 shares during the period. Point72 Hong Kong Ltd purchased a new position in Armstrong World Industries during the second quarter valued at $38,000. Covestor Ltd raised its stake in Armstrong World Industries by 89.9% during the first quarter. Covestor Ltd now owns 1,272 shares of the construction company's stock valued at $115,000 after buying an additional 602 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Armstrong World Industries by 19.2% during the second quarter. SRS Capital Advisors Inc. now owns 1,846 shares of the construction company's stock valued at $136,000 after buying an additional 297 shares during the last quarter. Finally, State of Wyoming raised its stake in Armstrong World Industries by 296.5% during the fourth quarter. State of Wyoming now owns 2,347 shares of the construction company's stock valued at $161,000 after buying an additional 1,755 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of NYSE:AWI traded down $0.96 during mid-day trading on Wednesday, reaching $114.69. The stock had a trading volume of 258,505 shares, compared to its average volume of 376,820. The company has a current ratio of 1.61, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99. The company has a market cap of $5.02 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.79 and a beta of 1.12. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The business's 50 day moving average price is $118.64 and its 200 day moving average price is $98.60.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.18. The company had revenue of $312.30 million for the quarter, compared to the consensus estimate of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. Research analysts expect that Armstrong World Industries, Inc. will post 5.74 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.98%. Armstrong World Industries's payout ratio is currently 22.40%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial lifted their target price on Armstrong World Industries from $95.00 to $131.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. UBS Group upgraded Armstrong World Industries from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $75.00 to $103.00 in a research report on Thursday, January 4th. StockNews.com upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.29.

About Armstrong World Industries

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.