Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 445,251 shares of the construction company’s stock after selling 15,317 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Armstrong World Industries were worth $58,519,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AWI. Transcendent Capital Group LLC purchased a new position in Armstrong World Industries in the third quarter worth approximately $26,000. Allspring Global Investments Holdings LLC purchased a new position in Armstrong World Industries in the first quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new position in Armstrong World Industries in the third quarter worth approximately $31,000. First Horizon Advisors Inc. lifted its stake in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after acquiring an additional 125 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Armstrong World Industries by 53.7% in the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

AWI traded up $1.18 during trading on Friday, hitting $153.70. The stock had a trading volume of 321,417 shares, compared to its average volume of 261,720. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The firm has a market capitalization of $6.70 billion, a P/E ratio of 27.11, a PEG ratio of 1.96 and a beta of 1.13. The company’s 50-day moving average price is $134.39 and its 200 day moving average price is $123.98. Armstrong World Industries, Inc. has a twelve month low of $79.39 and a twelve month high of $154.55.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. On average, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.17 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. Armstrong World Industries’s dividend payout ratio is 19.75%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AWI. Truist Financial lifted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, UBS Group boosted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $140.83.

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.