Aigen Investment Management LP Sells 12,773 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Aigen Investment Management LP decreased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 66.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,430 shares of the construction company’s stock after selling 12,773 shares during the quarter. Aigen Investment Management LP’s holdings in Armstrong World Industries were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AWI. Norges Bank acquired a new position in Armstrong World Industries in the fourth quarter valued at $42,297,000. FMR LLC lifted its stake in shares of Armstrong World Industries by 25.9% in the 3rd quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock valued at $117,068,000 after purchasing an additional 334,065 shares during the period. Principal Financial Group Inc. boosted its position in shares of Armstrong World Industries by 5,304.3% during the 4th quarter. Principal Financial Group Inc. now owns 228,007 shares of the construction company’s stock valued at $22,418,000 after purchasing an additional 223,788 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in Armstrong World Industries by 18.3% in the third quarter. Van Berkom & Associates Inc. now owns 1,080,384 shares of the construction company’s stock worth $77,788,000 after purchasing an additional 167,169 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in shares of Armstrong World Industries by 10.2% during the 4th quarter. Cooke & Bieler LP now owns 1,316,653 shares of the construction company’s stock worth $129,453,000 after buying an additional 121,586 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore ISI raised their price target on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. UBS Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their target price on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Truist Financial upped their price objective on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and an average price target of $110.17.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $115.58 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.22. The firm has a 50-day moving average of $118.51 and a 200-day moving average of $106.13. Armstrong World Industries, Inc. has a one year low of $62.03 and a one year high of $125.56. The company has a market cap of $5.06 billion, a P/E ratio of 21.58, a P/E/G ratio of 1.73 and a beta of 1.12.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $319.44 million. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Armstrong World Industries, Inc. will post 5.89 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.12 annualized dividend and a yield of 0.97%. Armstrong World Industries’s dividend payout ratio is currently 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.