Armstrong World Industries (NYSE:AWI) Cut to “Hold” at StockNews.com

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

AWI has been the subject of a number of other research reports. The Goldman Sachs Group boosted their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. UBS Group boosted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Truist Financial boosted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Five 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, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $153.33.

Armstrong World Industries Stock Performance

Shares of AWI opened at $149.84 on Thursday. The stock has a 50-day moving average price of $148.70 and a 200-day moving average price of $143.58. The company has a market cap of $6.51 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. Armstrong World Industries has a 12-month low of $110.68 and a 12-month high of $164.40. 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 released its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. As a group, equities analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.82%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Hedge Funds Weigh In On Armstrong World Industries

Hedge funds have recently made changes to their positions in the business. Madison Investment Advisors LLC purchased a new stake in Armstrong World Industries in the fourth quarter worth $75,242,000. Norges Bank purchased a new stake in Armstrong World Industries in the fourth quarter worth $71,822,000. Adage Capital Partners GP L.L.C. grew its stake in Armstrong World Industries by 140.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock worth $94,126,000 after purchasing an additional 389,000 shares during the period. Alyeska Investment Group L.P. grew its stake in Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock worth $75,273,000 after purchasing an additional 387,537 shares during the period. Finally, Invesco Ltd. grew its stake in Armstrong World Industries by 25.4% in the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company’s stock worth $71,773,000 after purchasing an additional 102,895 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.