Barclays PLC Decreases Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Barclays PLC lowered its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 66.0% during the 3rd quarter, Holdings Channel reports. The firm owned 22,233 shares of the construction company’s stock after selling 43,111 shares during the period. Barclays PLC’s holdings in Armstrong World Industries were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in shares of Armstrong World Industries in the 3rd quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries in the third quarter worth about $31,000. Allspring Global Investments Holdings LLC boosted its stake in Armstrong World Industries by 41.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Armstrong World Industries during the 3rd quarter valued at approximately $47,000. Finally, UMB Bank n.a. increased its stake in shares of Armstrong World Industries by 53.7% during the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Loop Capital increased their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI increased their target price on shares of 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. Finally, UBS Group lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Stock Performance

Shares of AWI opened at $144.72 on Wednesday. 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 has a market capitalization of $6.31 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. Armstrong World Industries, Inc. has a 52-week low of $95.24 and a 52-week high of $164.40. The stock’s 50-day simple moving average is $150.15 and its 200 day simple moving average is $132.76.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data 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 analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $1.60 earnings per share. Research analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.85%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.