Handelsbanken Fonder AB Lowers Stock Position in Armstrong World Industries, Inc. $AWI

Handelsbanken Fonder AB trimmed its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,630 shares of the construction company’s stock after selling 300 shares during the period. Handelsbanken Fonder AB’s holdings in Armstrong World Industries were worth $1,889,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AWI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Armstrong World Industries by 131.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock valued at $62,060,000 after purchasing an additional 250,133 shares during the last quarter. Invesco Ltd. boosted its position in shares of Armstrong World Industries by 34.0% during the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock worth $95,886,000 after buying an additional 172,779 shares during the period. Nuveen LLC acquired a new stake in shares of Armstrong World Industries in the first quarter valued at $23,449,000. Global Alpha Capital Management Ltd. acquired a new stake in shares of Armstrong World Industries in the first quarter valued at $21,301,000. Finally, AQR Capital Management LLC raised its holdings in shares of Armstrong World Industries by 91.7% in the 1st quarter. AQR Capital Management LLC now owns 248,363 shares of the construction company’s stock valued at $34,296,000 after buying an additional 118,830 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the company a “hold” rating in a report on Wednesday, July 30th. Truist Financial raised their price objective on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Vertical Research started coverage on shares of Armstrong World Industries in a research note on Monday, October 20th. They set a “buy” rating and a $238.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a report on Wednesday, October 8th. Finally, Bank of America boosted their price target on shares of Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.50.

Armstrong World Industries Stock Up 0.7%

Shares of Armstrong World Industries stock opened at $191.23 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.52 and a debt-to-equity ratio of 0.47. Armstrong World Industries, Inc. has a 52-week low of $122.37 and a 52-week high of $206.08. The company has a market capitalization of $8.25 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.87 and a beta of 1.41. The company has a 50 day moving average of $193.15 and a 200 day moving average of $180.28.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. The business had revenue of $325.00 million for the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.339 per share. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 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.