Barclays PLC Sells 43,111 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Barclays PLC reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 66.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,233 shares of the construction company’s stock after selling 43,111 shares during the quarter. Barclays PLC owned approximately 0.05% of Armstrong World Industries worth $2,923,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in Armstrong World Industries in the third quarter valued at $768,000. MML Investors Services LLC lifted its stake in shares of Armstrong World Industries by 10.1% in the 3rd quarter. MML Investors Services LLC now owns 25,537 shares of the construction company’s stock valued at $3,356,000 after purchasing an additional 2,339 shares during the period. Jane Street Group LLC lifted its stake in shares of Armstrong World Industries by 37.3% in the 3rd quarter. Jane Street Group LLC now owns 63,513 shares of the construction company’s stock valued at $8,348,000 after purchasing an additional 17,263 shares during the period. State Street Corp boosted its position in shares of Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after purchasing an additional 51,839 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in Armstrong World Industries by 12.2% during the third quarter. Stifel Financial Corp now owns 99,596 shares of the construction company’s stock worth $13,090,000 after purchasing an additional 10,811 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $144.72 on Wednesday. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.01 and a beta of 1.15. 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, Inc. has a fifty-two week low of $95.24 and a fifty-two week high of $164.40. The firm’s 50-day simple moving average is $150.15 and its 200 day simple moving average is $132.76.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same quarter last year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.308 per share. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.69%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group increased their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Loop Capital lifted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Company 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.