Verdence Capital Advisors LLC Cuts Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Verdence Capital Advisors LLC lessened its position in Armstrong World Industries, Inc. (NYSE:AWI) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,567 shares of the construction company’s stock after selling 466 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Armstrong World Industries were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AWI. State Street Corp lifted its stake in shares of Armstrong World Industries by 3.7% in the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after buying an additional 51,839 shares in the last quarter. Geode Capital Management LLC lifted its stake in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares in the last quarter. Natixis Advisors LLC lifted its stake in Armstrong World Industries by 16.0% in the 3rd 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Armstrong World Industries by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 380,281 shares of the construction company’s stock valued at $53,745,000 after purchasing an additional 2,149 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Up 0.7 %

Armstrong World Industries stock opened at $149.84 on Friday. The company has a market capitalization of $6.51 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. 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, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The firm has a 50 day moving average price of $148.58 and a 200 day moving average price of $143.23.

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

Armstrong World Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AWI shares. UBS Group lifted their price objective 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. The Goldman Sachs Group lifted their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Truist Financial upped their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $153.33.

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.