Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,907 shares of the construction company’s stock after selling 177 shares during the period. M&T Bank Corp’s holdings in Armstrong World Industries were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AWI. US Bancorp DE boosted its position in shares of Armstrong World Industries by 13.9% during the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock worth $88,000 after buying an additional 82 shares during the period. Atria Investments Inc boosted its position in shares of Armstrong World Industries by 2.7% during the third quarter. Atria Investments Inc now owns 10,714 shares of the construction company’s stock worth $1,408,000 after buying an additional 284 shares during the period. Victory Capital Management Inc. boosted its position in shares of Armstrong World Industries by 230.1% during the third quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock worth $5,708,000 after buying an additional 30,273 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Armstrong World Industries by 2.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,206 shares of the construction company’s stock worth $1,341,000 after buying an additional 283 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Armstrong World Industries by 4.3% during the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock worth $245,000 after buying an additional 76 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

NYSE AWI opened at $140.10 on Friday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $164.40. The business’s fifty day moving average is $148.59 and its two-hundred day moving average is $144.12. 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 (NYSE:AWI) last announced its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. During the same period in the previous year, the business earned $1.22 EPS. The company’s revenue was up 17.7% on a year-over-year basis. On average, research analysts forecast 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 announced 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. This represents a $1.23 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 20.40%.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of research analyst reports. StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. UBS Group upped their target price 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. Finally, The Goldman Sachs Group upped their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and an average target price 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.