National Asset Management Inc. purchased a new stake in shares of Armstrong World Industries Inc (NYSE:AWI) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 5,202 shares of the construction company’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Armstrong World Industries by 13.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,064 shares of the construction company’s stock worth $178,000 after acquiring an additional 356 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Armstrong World Industries in the 4th quarter valued at about $38,000. M&T Bank Corp boosted its stake in shares of Armstrong World Industries by 5.5% in the 4th quarter. M&T Bank Corp now owns 3,907 shares of the construction company’s stock valued at $229,000 after purchasing an additional 202 shares during the last quarter. Beck Mack & Oliver LLC boosted its stake in shares of Armstrong World Industries by 4.8% in the 4th quarter. Beck Mack & Oliver LLC now owns 704,285 shares of the construction company’s stock valued at $40,996,000 after purchasing an additional 32,237 shares during the last quarter. Finally, Round Table Services LLC boosted its stake in shares of Armstrong World Industries by 20.7% in the 4th quarter. Round Table Services LLC now owns 3,976 shares of the construction company’s stock valued at $231,000 after purchasing an additional 683 shares during the last quarter. Institutional investors own 99.47% of the company’s stock.

AWI has been the topic of several recent research reports. Zacks Investment Research lowered shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Nomura reaffirmed a “neutral” rating and issued a $76.00 target price (up previously from $73.00) on shares of Armstrong World Industries in a research note on Monday, March 4th. They noted that the move was a valuation call. Zelman & Associates raised shares of Armstrong World Industries from a “sell” rating to a “hold” rating and set a $73.05 target price on the stock in a research note on Wednesday, March 6th. KeyCorp raised their target price on shares of Armstrong World Industries from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, February 26th. Finally, Bank of America raised their target price on shares of Armstrong World Industries from $84.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $83.01.

Shares of NYSE AWI opened at $89.08 on Friday. The stock has a market capitalization of $4.36 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.85. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.15 and a current ratio of 1.27. Armstrong World Industries Inc has a 1 year low of $54.34 and a 1 year high of $89.63.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. The business had revenue of $242.10 million for the quarter, compared to the consensus estimate of $247.38 million. Armstrong World Industries had a net margin of 19.92% and a return on equity of 63.92%. Armstrong World Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Analysts expect that Armstrong World Industries Inc will post 4.56 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.175 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.79%. Armstrong World Industries’s dividend payout ratio is 19.13%.

In related news, SVP Ellen R. Romano sold 6,500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $88.21, for a total value of $573,365.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Valueact Capital Master Fund, sold 1,725,000 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $73.69, for a total transaction of $127,115,250.00. The disclosure for this sale can be found here. Insiders sold a total of 2,259,188 shares of company stock worth $167,321,824 over the last quarter. 1.94% of the stock is currently owned by corporate insiders.

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About Armstrong World Industries

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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