Rhumbline Advisers Sells 1,388 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Rhumbline Advisers cut its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,274 shares of the construction company’s stock after selling 1,388 shares during the period. Rhumbline Advisers owned about 0.24% of Armstrong World Industries worth $15,020,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Armstrong World Industries by 6.7% in the fourth quarter. Blue Trust Inc. now owns 1,523 shares of the construction company’s stock worth $215,000 after purchasing an additional 95 shares during the last quarter. Van ECK Associates Corp grew its holdings in Armstrong World Industries by 34.5% during the 4th quarter. Van ECK Associates Corp now owns 39,735 shares of the construction company’s stock worth $5,616,000 after acquiring an additional 10,192 shares in the last quarter. Quent Capital LLC grew its holdings in Armstrong World Industries by 288.1% during the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after acquiring an additional 170 shares in the last quarter. Empowered Funds LLC bought a new position in Armstrong World Industries during the 4th quarter worth about $211,000. Finally, Lecap Asset Management Ltd. bought a new position in Armstrong World Industries during the 4th quarter worth about $589,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial increased their target price 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. Loop Capital increased their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, UBS Group increased 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 report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $142.60.

Armstrong World Industries Stock Performance

AWI stock opened at $146.72 on Friday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.62 and a beta of 1.19. The firm has a 50-day simple moving average of $147.60 and a two-hundred day simple moving average of $141.46. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s payout ratio is currently 21.69%.

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.