Armstrong World Industries, Inc. (NYSE:AWI) Stock Holdings Lowered by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 80.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 977 shares of the construction company’s stock after selling 3,941 shares during the period. SG Americas Securities LLC’s holdings in Armstrong World Industries were worth $128,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new stake in shares of Armstrong World Industries during the 1st quarter valued at $2,081,000. Assenagon Asset Management S.A. raised its position in shares of Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after purchasing an additional 33,290 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Armstrong World Industries during the first quarter valued at $3,097,000. Duality Advisers LP acquired a new position in shares of Armstrong World Industries in the 1st quarter valued at $1,150,000. Finally, Sei Investments Co. increased its stake in Armstrong World Industries by 185.3% in the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock worth $6,489,000 after purchasing an additional 33,927 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Performance

AWI stock opened at $136.13 on Friday. The firm has a 50 day simple moving average of $130.29 and a 200 day simple moving average of $121.95. Armstrong World Industries, Inc. has a 52 week low of $72.30 and a 52 week high of $142.33. The stock has a market cap of $5.96 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The company had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. Research analysts anticipate that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.91%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

Analysts Set New Price Targets

A number of 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 note on Tuesday, August 20th. Jefferies Financial Group upped their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. Truist Financial boosted their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, UBS Group raised their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

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.