Armstrong World Industries, Inc. (NYSE:AWI) Stake Decreased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,334 shares of the construction company’s stock after selling 1,050 shares during the period. Massachusetts Financial Services Co. MA owned 0.10% of Armstrong World Industries worth $5,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Burgundy Asset Management Ltd. raised its holdings in Armstrong World Industries by 1.5% during the second quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after purchasing an additional 17,075 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in Armstrong World Industries by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock worth $82,168,000 after purchasing an additional 14,450 shares in the last quarter. Natixis Advisors LLC raised its holdings in Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after purchasing an additional 145,133 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after purchasing an additional 67,954 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 0.0 %

NYSE AWI opened at $162.01 on Wednesday. Armstrong World Industries, Inc. has a twelve month low of $82.63 and a twelve month high of $164.40. 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 cap of $7.06 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.03 and a beta of 1.13. The firm’s 50 day moving average price is $141.35 and its two-hundred day moving average price is $127.07.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same period in the previous year, the company posted $1.60 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.76%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is presently 21.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AWI. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Loop Capital lifted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus price target of $140.83.

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.