Amundi Sells 14,374 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Amundi reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 38.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,713 shares of the construction company’s stock after selling 14,374 shares during the period. Amundi’s holdings in Armstrong World Industries were worth $3,240,000 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. Tealwood Asset Management Inc. raised its holdings in shares of Armstrong World Industries by 0.8% in the fourth quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company’s stock valued at $1,313,000 after acquiring an additional 71 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Armstrong World Industries by 4.3% in the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after acquiring an additional 76 shares in the last quarter. US Bancorp DE raised its holdings in shares of Armstrong World Industries by 13.9% in the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after acquiring an additional 82 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Armstrong World Industries by 0.7% in the fourth quarter. Arizona State Retirement System now owns 12,683 shares of the construction company’s stock valued at $1,792,000 after acquiring an additional 82 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Armstrong World Industries by 6.7% in the fourth quarter. Blue Trust Inc. now owns 1,523 shares of the construction company’s stock valued at $215,000 after acquiring an additional 95 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AWI shares. Truist Financial lifted their target price on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their target price 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. UBS Group lifted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Price Performance

Shares of AWI stock opened at $140.10 on Monday. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.60 and a beta of 1.25. 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 stock’s 50-day simple moving average is $148.59 and its 200-day simple moving average is $144.26.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.308 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

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.