Assenagon Asset Management S.A. Sells 3,011 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Assenagon Asset Management S.A. trimmed its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,556 shares of the construction company’s stock after selling 3,011 shares during the period. Assenagon Asset Management S.A. owned 0.21% of Armstrong World Industries worth $13,081,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. American Century Companies Inc. raised its position in shares of Armstrong World Industries by 13.0% during the 2nd quarter. American Century Companies Inc. now owns 76,945 shares of the construction company’s stock valued at $8,713,000 after acquiring an additional 8,841 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Armstrong World Industries during the second quarter worth $129,000. Envestnet Asset Management Inc. increased its holdings in Armstrong World Industries by 27.8% in the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after purchasing an additional 67,954 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Armstrong World Industries by 14.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 44,384 shares of the construction company’s stock valued at $5,026,000 after buying an additional 5,652 shares during the period. Finally, Argent Trust Co boosted its holdings in Armstrong World Industries by 9.0% during the second quarter. Argent Trust Co now owns 2,628 shares of the construction company’s stock worth $298,000 after buying an additional 217 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group upped their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

AWI stock opened at $148.83 on Friday. The stock has a 50-day moving average price of $150.55 and a two-hundred day moving average price of $136.40. Armstrong World Industries, Inc. has a 1 year low of $96.69 and a 1 year high of $164.40. The stock has a market cap of $6.49 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.18. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. Equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

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

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.