Armstrong World Industries (NYSE:AWI) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other equities analysts have also issued reports on the company. Evercore ISI boosted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Loop Capital increased their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus price target of $142.60.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $153.22 on Tuesday. The firm has a market capitalization of $6.68 billion, a P/E ratio of 27.02, a PEG ratio of 1.60 and a beta of 1.19. Armstrong World Industries has a 1 year low of $110.68 and a 1 year high of $164.40. The business has a 50-day moving average of $147.51 and a 200-day moving average of $142.04. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. On average, equities analysts anticipate that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s payout ratio is presently 21.69%.

Institutional Investors Weigh In On Armstrong World Industries

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Armstrong World Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock valued at $656,922,000 after purchasing an additional 34,579 shares during the last quarter. State Street Corp lifted its holdings in Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after purchasing an additional 51,839 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock valued at $169,427,000 after purchasing an additional 19,787 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company’s stock valued at $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Armstrong World Industries by 140.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after purchasing an additional 389,000 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.