Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,355 shares of the construction company’s stock after selling 126 shares during the quarter. AdvisorNet Financial Inc’s holdings in Armstrong World Industries were worth $541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Armstrong World Industries during the fourth quarter worth approximately $27,000. GAMMA Investing LLC acquired a new position in Armstrong World Industries in the fourth quarter valued at $49,000. Principal Securities Inc. acquired a new position in Armstrong World Industries in the fourth quarter valued at $185,000. Aristides Capital LLC purchased a new stake in Armstrong World Industries during the fourth quarter valued at about $202,000. Finally, M&T Bank Corp purchased a new position in shares of Armstrong World Industries in the 4th quarter worth about $204,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 0.3 %

AWI opened at $114.96 on Tuesday. The firm’s 50 day moving average is $115.34 and its 200-day moving average is $111.28. Armstrong World Industries, Inc. has a 52-week low of $68.35 and a 52-week high of $125.56. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.03 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.72 and a beta of 1.16.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.15. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 EPS. Analysts expect that Armstrong World Industries, Inc. will post 5.89 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore ISI boosted their target price on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Finally, UBS Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $110.17.

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.