NFJ Investment Group LLC Reduces Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

NFJ Investment Group LLC lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 25,654 shares of the construction company’s stock after selling 1,938 shares during the period. NFJ Investment Group LLC’s holdings in Armstrong World Industries were worth $3,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Armstrong World Industries by 107.3% in the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after acquiring an additional 33,290 shares during the period. Natixis Advisors LLC boosted its position in Armstrong World Industries by 16.0% in the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares during the last quarter. Quest Partners LLC boosted its position in Armstrong World Industries by 32.9% in the third quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock worth $2,625,000 after purchasing an additional 4,945 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Armstrong World Industries by 247.4% during the 2nd quarter. Hsbc Holdings PLC now owns 11,405 shares of the construction company’s stock valued at $1,288,000 after purchasing an additional 8,122 shares during the period. Finally, Sei Investments Co. increased its position in shares of Armstrong World Industries by 70.7% during the 2nd quarter. Sei Investments Co. now owns 89,196 shares of the construction company’s stock valued at $10,101,000 after purchasing an additional 36,955 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Loop Capital boosted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Armstrong World Industries presently has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Trading Up 0.1 %

Shares of Armstrong World Industries stock opened at $159.30 on Wednesday. Armstrong World Industries, Inc. has a fifty-two week low of $89.87 and a fifty-two week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market capitalization of $6.94 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.03 and a beta of 1.15. The company has a fifty day moving average of $144.32 and a 200 day moving average of $128.61.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 earnings per share. On average, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 21.69%.

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.