Norges Bank Buys New Position in Armstrong World Industries, Inc. (NYSE:AWI)

Norges Bank purchased a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 508,188 shares of the construction company’s stock, valued at approximately $71,822,000. Norges Bank owned approximately 1.17% of Armstrong World Industries at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries during the fourth quarter worth approximately $32,000. Quent Capital LLC raised its stake in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after buying an additional 170 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Armstrong World Industries in the fourth quarter valued at $33,000. Twin Tree Management LP bought a new position in Armstrong World Industries during the fourth quarter valued at about $43,000. Finally, Point72 DIFC Ltd acquired a new position in Armstrong World Industries during the third quarter worth about $47,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Armstrong World Industries Trading Up 1.1 %

Armstrong World Industries stock opened at $143.16 on Thursday. The company has a 50 day moving average price of $147.75 and a 200 day moving average price of $145.82. 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 firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.60 and a beta of 1.20.

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

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is 20.40%.

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.