William Blair Investment Management LLC Sells 23,495 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

William Blair Investment Management LLC trimmed its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,527 shares of the construction company’s stock after selling 23,495 shares during the quarter. William Blair Investment Management LLC owned approximately 0.56% of Armstrong World Industries worth $34,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AWI. Madison Investment Advisors LLC purchased a new stake in Armstrong World Industries in the 4th quarter worth approximately $75,242,000. Raymond James Financial Inc. purchased a new stake in Armstrong World Industries in the 4th quarter worth approximately $8,375,000. State Street Corp lifted its holdings in Armstrong World Industries by 3.7% in the 3rd 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 during the period. Geode Capital Management LLC lifted its holdings 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 buying an additional 34,028 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Armstrong World Industries by 11.0% in the 4th quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company’s stock worth $43,914,000 after buying an additional 30,878 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Down 0.1 %

Shares of NYSE:AWI opened at $141.45 on Wednesday. The stock has a fifty day simple moving average of $148.57 and a two-hundred day simple moving average of $144.47. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. 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 announced its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. The business had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. On average, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 0.87%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s payout ratio is currently 20.40%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. UBS Group increased their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group raised their target price on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.