Mutual of America Capital Management LLC Lowers Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Mutual of America Capital Management LLC lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 8.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,573 shares of the construction company’s stock after selling 620 shares during the period. Mutual of America Capital Management LLC’s holdings in Armstrong World Industries were worth $864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in Armstrong World Industries in the third quarter worth approximately $31,000. Allspring Global Investments Holdings LLC lifted its holdings in Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after buying an additional 89 shares during the period. UMB Bank n.a. boosted its position in Armstrong World Industries by 53.7% during the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after acquiring an additional 153 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after acquiring an additional 125 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Price Performance

AWI stock opened at $162.01 on Wednesday. Armstrong World Industries, Inc. has a 52-week low of $82.63 and a 52-week high of $164.40. The business has a fifty day moving average of $141.35 and a two-hundred day moving average of $127.07. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. 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 (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the business posted $1.60 EPS. As a group, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AWI shares. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group boosted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised 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 note on Wednesday, October 30th. Loop Capital upped their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI raised their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $140.83.

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.