Bank of New York Mellon Corp Boosts Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Bank of New York Mellon Corp boosted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 380,281 shares of the construction company’s stock after purchasing an additional 2,149 shares during the period. Bank of New York Mellon Corp owned about 0.87% of Armstrong World Industries worth $53,745,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Transcendent Capital Group LLC bought a new position in shares of Armstrong World Industries in the third quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new position in shares of Armstrong World Industries during the 4th quarter valued at $32,000. Quent Capital LLC boosted its holdings in Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after buying an additional 170 shares during the period. Fortitude Family Office LLC purchased a new stake in Armstrong World Industries in the 4th quarter worth $33,000. Finally, Point72 DIFC Ltd purchased a new stake in Armstrong World Industries in the 3rd quarter worth $47,000. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

NYSE AWI opened at $152.77 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The business has a 50 day simple moving average of $148.34 and a two-hundred day simple moving average of $143.13. The stock has a market capitalization of $6.64 billion, a PE ratio of 26.94, a P/E/G ratio of 1.60 and a beta of 1.19.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. During the same period in the prior year, the company earned $1.22 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.308 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.81%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Wall Street Analysts Forecast Growth

AWI has been the topic of several research analyst reports. UBS Group boosted their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted 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 increased 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 downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $153.33.

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.