Fox Run Management L.L.C. Sells 2,819 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Fox Run Management L.L.C. decreased its position in Armstrong World Industries, Inc. (NYSE:AWI) by 44.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,554 shares of the construction company’s stock after selling 2,819 shares during the period. Fox Run Management L.L.C.’s holdings in Armstrong World Industries were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after purchasing an additional 34,028 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Armstrong World Industries by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock valued at $1,447,000 after buying an additional 5,191 shares during the period. Verition Fund Management LLC bought a new position in Armstrong World Industries in the third quarter valued at approximately $1,035,000. Charles Schwab Investment Management Inc. grew its holdings in Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after acquiring an additional 18,333 shares during the period. Finally, Principal Securities Inc. raised its position in shares of Armstrong World Industries by 11.1% during the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company’s stock valued at $389,000 after acquiring an additional 274 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. UBS Group raised their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Truist Financial lifted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $153.33.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $145.96 on Wednesday. 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 52 week low of $110.68 and a 52 week high of $164.40. The company’s 50 day moving average price is $148.60 and its two-hundred day moving average price is $145.17. The company has a market capitalization of $6.34 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. The business had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. On average, analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.84%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s payout ratio is 20.40%.

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.