Armstrong World Industries, Inc. $AWI Stake Cut by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 55.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 395 shares of the construction company’s stock after selling 500 shares during the period. First Horizon Advisors Inc.’s holdings in Armstrong World Industries were worth $64,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Corton Capital Inc. bought a new position in shares of Armstrong World Industries in the 2nd quarter worth about $212,000. Bank of Montreal Can raised its stake in Armstrong World Industries by 3.8% during the second quarter. Bank of Montreal Can now owns 7,094 shares of the construction company’s stock worth $1,152,000 after acquiring an additional 262 shares during the period. Versor Investments LP lifted its holdings in Armstrong World Industries by 29.9% in the second quarter. Versor Investments LP now owns 5,493 shares of the construction company’s stock worth $892,000 after acquiring an additional 1,263 shares during the last quarter. Strs Ohio acquired a new position in Armstrong World Industries in the second quarter valued at approximately $2,168,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Armstrong World Industries by 121.6% during the second quarter. Y Intercept Hong Kong Ltd now owns 5,941 shares of the construction company’s stock valued at $965,000 after purchasing an additional 3,260 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AWI. JPMorgan Chase & Co. raised their price target on Armstrong World Industries from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Truist Financial increased their target price on Armstrong World Industries from $195.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Evercore ISI boosted their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a report on Wednesday, July 30th. Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Finally, Vertical Research assumed coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They issued a “buy” rating and a $238.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $207.50.

Armstrong World Industries Price Performance

Shares of AWI opened at $188.87 on Monday. Armstrong World Industries, Inc. has a one year low of $122.37 and a one year high of $206.08. The stock’s fifty day moving average is $196.05 and its 200-day moving average is $176.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.52. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The firm had revenue of $325.00 million during the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be paid a dividend of $0.339 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 6th. Armstrong World Industries’s dividend payout ratio (DPR) is 19.31%.

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.