Price T Rowe Associates Inc. MD lowered its stake in Armstrong World Industries, Inc. (NYSE:AWI – Free Report) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,494,963 shares of the construction company’s stock after selling 91,588 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.42% of Armstrong World Industries worth $185,705,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in Armstrong World Industries by 211.3% in the fourth quarter. State of Alaska Department of Revenue now owns 40,042 shares of the construction company’s stock valued at $3,936,000 after buying an additional 27,179 shares in the last quarter. JB Capital LLC acquired a new stake in Armstrong World Industries in the fourth quarter valued at about $229,000. Oak Thistle LLC boosted its stake in Armstrong World Industries by 43.0% in the fourth quarter. Oak Thistle LLC now owns 5,190 shares of the construction company’s stock valued at $510,000 after buying an additional 1,560 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Armstrong World Industries in the fourth quarter valued at about $1,082,000. Finally, Bleakley Financial Group LLC boosted its stake in Armstrong World Industries by 7.4% in the fourth quarter. Bleakley Financial Group LLC now owns 5,025 shares of the construction company’s stock valued at $494,000 after buying an additional 347 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.
Armstrong World Industries Trading Down 0.9 %
Shares of AWI stock traded down $1.24 during mid-day trading on Monday, reaching $130.01. 107,222 shares of the stock traded hands, compared to its average volume of 341,272. The stock’s fifty day simple moving average is $116.41 and its two-hundred day simple moving average is $114.75. Armstrong World Industries, Inc. has a 1-year low of $68.35 and a 1-year high of $133.18. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.
Armstrong World Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.
Analyst Ratings Changes
Several analysts recently weighed in on AWI shares. 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. Evercore ISI raised their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and an average target price of $126.00.
Read Our Latest Stock Analysis on AWI
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.
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