Jupiter Asset Management Ltd. Sells 27,639 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Jupiter Asset Management Ltd. lessened its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,136 shares of the construction company’s stock after selling 27,639 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.45% of Armstrong World Industries worth $27,579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Armstrong World Industries by 90.2% during the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock worth $60,000 after purchasing an additional 202 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Armstrong World Industries by 55.7% during the fourth quarter. HighTower Advisors LLC now owns 24,493 shares of the construction company’s stock valued at $3,462,000 after buying an additional 8,763 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at about $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Armstrong World Industries by 3.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,488 shares of the construction company’s stock valued at $1,482,000 after buying an additional 368 shares in the last quarter. Finally, Inceptionr LLC grew its position in shares of Armstrong World Industries by 55.1% in the 4th quarter. Inceptionr LLC now owns 9,827 shares of the construction company’s stock worth $1,389,000 after buying an additional 3,492 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $139.79 on Thursday. The stock has a market capitalization of $6.08 billion, a P/E ratio of 24.65, a PEG ratio of 1.60 and a beta of 1.25. The business has a 50 day simple moving average of $148.71 and a two-hundred day simple moving average of $143.94. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. 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 earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 28th. UBS Group increased their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Truist Financial raised their price objective 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. Finally, StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus price target of $153.33.

About Armstrong World Industries

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.