Armstrong World Industries, Inc. (NYSE:AWI) Position Lowered by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 31.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,606 shares of the construction company's stock after selling 19,188 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.10% of Armstrong World Industries worth $5,881,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new position in shares of Armstrong World Industries during the 4th quarter worth about $32,000. Quent Capital LLC raised its stake in Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock worth $32,000 after purchasing an additional 170 shares during the period. Fortitude Family Office LLC purchased a new position in Armstrong World Industries during the fourth quarter worth approximately $33,000. Twin Tree Management LP acquired a new position in shares of Armstrong World Industries in the 4th quarter valued at $43,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Armstrong World Industries by 90.2% during the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after buying an additional 202 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Down 0.5 %

Shares of NYSE AWI traded down $0.74 during trading on Wednesday, reaching $149.33. 223,094 shares of the stock were exchanged, compared to its average volume of 274,504. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The business's 50-day moving average price is $140.34 and its 200 day moving average price is $146.28. 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 quarterly earnings data 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. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $382.70 million during the quarter, compared to analysts' expectations of $370.71 million. During the same period in the prior year, the company posted $1.38 EPS. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries's payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AWI. 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 lifted their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Truist Financial increased their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. UBS Group lifted their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Loop Capital dropped 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. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Armstrong World Industries presently has an average 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.