Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 22.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,603 shares of the construction company’s stock after selling 462 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Armstrong World Industries were worth $211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Asset Management Ltd. boosted its position in Armstrong World Industries by 1,369.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock valued at $27,872,000 after purchasing an additional 229,378 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after acquiring an additional 145,133 shares during the period. Natixis Advisors LLC grew its position in shares of Armstrong World Industries by 35.0% during the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock worth $48,049,000 after acquiring an additional 110,111 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after acquiring an additional 79,475 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Armstrong World Industries by 27.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after acquiring an additional 67,954 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $159.83 on Monday. The firm has a market capitalization of $6.97 billion, a PE ratio of 28.19, a PEG ratio of 2.04 and a beta of 1.13. 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, Inc. has a 1-year low of $83.59 and a 1-year high of $164.40. The business’s 50 day moving average is $143.79 and its 200-day moving average is $128.21.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same quarter last year, the company earned $1.60 EPS. Armstrong World Industries’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.77%. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AWI. UBS Group raised their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Loop Capital boosted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries 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.