Alliancebernstein L.P. Trims Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Alliancebernstein L.P. cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,196,234 shares of the construction company’s stock after selling 87,248 shares during the quarter. Alliancebernstein L.P. owned about 2.74% of Armstrong World Industries worth $169,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Citigroup Inc. increased its position in shares of Armstrong World Industries by 7.3% during the third quarter. Citigroup Inc. now owns 32,697 shares of the construction company’s stock valued at $4,297,000 after acquiring an additional 2,215 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Armstrong World Industries by 166.2% during the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock worth $6,417,000 after purchasing an additional 30,570 shares during the period. Quantbot Technologies LP increased its holdings in Armstrong World Industries by 196.1% in the 3rd quarter. Quantbot Technologies LP now owns 5,389 shares of the construction company’s stock valued at $708,000 after purchasing an additional 3,569 shares during the last quarter. BNP Paribas Financial Markets raised its position in Armstrong World Industries by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock valued at $1,447,000 after purchasing an additional 5,191 shares during the period. Finally, Bridgewater Associates LP lifted its stake in Armstrong World Industries by 39.3% during the third quarter. Bridgewater Associates LP now owns 2,646 shares of the construction company’s stock worth $348,000 after purchasing an additional 746 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AWI. UBS Group boosted their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Truist Financial boosted their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group upped their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $153.33.

Armstrong World Industries Stock Up 0.5 %

AWI stock opened at $141.56 on Wednesday. The company’s 50 day moving average price is $147.92 and its 200 day moving average price is $145.84. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week 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.

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

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is 20.40%.

Armstrong World Industries Company Profile

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.