Thrivent Financial for Lutherans Decreases Position in Armstrong World Industries, Inc. (NYSE:AWI)

Thrivent Financial for Lutherans decreased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,049 shares of the construction company’s stock after selling 4,672 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.29% of Armstrong World Industries worth $14,614,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Armstrong World Industries in the first quarter valued at about $27,000. UMB Bank n.a. boosted its stake in Armstrong World Industries by 67.3% during the first quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after acquiring an additional 105 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Armstrong World Industries during the first quarter worth about $52,000. First Horizon Advisors Inc. boosted its stake in Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares in the last quarter. Finally, CWM LLC boosted its stake in Armstrong World Industries by 17.3% during the second quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Truist Financial upped their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Evercore ISI raised their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.75.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI opened at $132.72 on Wednesday. Armstrong World Industries, Inc. has a 52 week low of $68.35 and a 52 week high of $134.90. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $125.00 and a two-hundred day simple moving average of $119.79. The stock has a market capitalization of $5.81 billion, a P/E ratio of 24.95, a PEG ratio of 1.73 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. During the same period in the previous year, the company earned $1.38 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts expect that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.84%. Armstrong World Industries’s payout ratio is 21.05%.

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.