JPMorgan Chase & Co. Sells 20,297 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

JPMorgan Chase & Co. trimmed its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 29.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,997 shares of the construction company’s stock after selling 20,297 shares during the period. JPMorgan Chase & Co. owned about 0.11% of Armstrong World Industries worth $6,440,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AWI. Transcendent Capital Group LLC bought a new position in Armstrong World Industries during the 3rd quarter worth about $26,000. V Square Quantitative Management LLC acquired a new position in shares of Armstrong World Industries during the third quarter worth about $31,000. Point72 DIFC Ltd bought a new position in shares of Armstrong World Industries during the third quarter worth about $47,000. UMB Bank n.a. raised its position in Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after buying an additional 153 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Armstrong World Industries by 25.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company’s stock valued at $83,000 after acquiring an additional 130 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AWI has been the subject of several research reports. Jefferies Financial Group raised their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial raised their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report 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 note on Wednesday, October 30th. Finally, StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Stock Up 1.6 %

Armstrong World Industries stock opened at $148.11 on Thursday. Armstrong World Industries, Inc. has a fifty-two week low of $96.69 and a fifty-two week high of $164.40. The firm has a market capitalization of $6.46 billion, a PE ratio of 26.12, a P/E/G ratio of 2.01 and a beta of 1.18. The company’s 50-day moving average is $150.85 and its 200-day moving average is $135.80. 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 (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same quarter in the prior year, the company earned $1.60 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.83%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s payout ratio is 21.69%.

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.