Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Cannell & Co.

Cannell & Co. lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,465 shares of the construction company’s stock after selling 150 shares during the quarter. Cannell & Co.’s holdings in Armstrong World Industries were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AWI. HighTower Advisors LLC lifted its position in shares of Armstrong World Industries by 1.1% during the 3rd quarter. HighTower Advisors LLC now owns 13,733 shares of the construction company’s stock valued at $986,000 after acquiring an additional 143 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Armstrong World Industries by 3.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,291 shares of the construction company’s stock valued at $309,000 after acquiring an additional 159 shares during the period. Fox Run Management L.L.C. lifted its position in shares of Armstrong World Industries by 1.8% during the 3rd quarter. Fox Run Management L.L.C. now owns 9,765 shares of the construction company’s stock valued at $703,000 after acquiring an additional 175 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Armstrong World Industries by 4.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,047 shares of the construction company’s stock valued at $291,000 after acquiring an additional 186 shares during the period. Finally, Simplicity Solutions LLC lifted its position in shares of Armstrong World Industries by 5.2% during the 4th quarter. Simplicity Solutions LLC now owns 4,923 shares of the construction company’s stock valued at $484,000 after acquiring an additional 245 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AWI. Truist Financial lifted their price target on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Evercore ISI raised their price objective on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research note on Wednesday. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their price objective on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group raised their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $110.17.

Armstrong World Industries Stock Down 0.7 %

AWI stock opened at $114.05 on Thursday. The stock has a market capitalization of $4.99 billion, a P/E ratio of 21.44, a PEG ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.79. Armstrong World Industries, Inc. has a one year low of $62.03 and a one year high of $125.56. The company has a 50 day moving average price of $120.32 and a two-hundred day moving average price of $101.60.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.23 by $0.15. The firm had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $319.44 million. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. Armstrong World Industries’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, sell-side analysts expect that Armstrong World Industries, Inc. will post 5.9 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

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.