Zurcher Kantonalbank Zurich Cantonalbank Acquires 368 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,488 shares of the construction company’s stock after purchasing an additional 368 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Armstrong World Industries were worth $1,482,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in Armstrong World Industries by 230.1% during the third quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock worth $5,708,000 after acquiring an additional 30,273 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Armstrong World Industries by 4.3% during the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock worth $245,000 after acquiring an additional 76 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Armstrong World Industries by 3.4% during the third quarter. Thrivent Financial for Lutherans now owns 133,383 shares of the construction company’s stock worth $17,530,000 after acquiring an additional 4,334 shares in the last quarter. First Horizon Advisors Inc. raised its position in Armstrong World Industries by 25.8% during the third quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company’s stock worth $83,000 after acquiring an additional 130 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Armstrong World Industries by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after acquiring an additional 18,333 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

NYSE:AWI opened at $141.45 on Wednesday. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The company has a market cap of $6.15 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.60 and a beta of 1.25. The firm’s fifty day moving average price is $148.57 and its two-hundred day moving average price is $144.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. During the same period in the prior year, the company posted $1.22 earnings per share. Armstrong World Industries’s revenue was up 17.7% compared to the same quarter last year. Equities analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.87%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AWI shares. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Truist Financial upped their price target 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. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, UBS Group upped their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $153.33.

Armstrong World Industries Company 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.