Advantage Alpha Capital Partners LP Sells 3,199 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Advantage Alpha Capital Partners LP lowered its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,942 shares of the construction company’s stock after selling 3,199 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.09% of Armstrong World Industries worth $5,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in Armstrong World Industries by 166.2% during the third quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock valued at $6,417,000 after buying an additional 30,570 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Armstrong World Industries by 31.1% during the 3rd quarter. Cerity Partners LLC now owns 17,038 shares of the construction company’s stock worth $2,239,000 after acquiring an additional 4,044 shares during the last quarter. Citigroup Inc. grew its position in shares of Armstrong World Industries by 7.3% during the 3rd quarter. Citigroup Inc. now owns 32,697 shares of the construction company’s stock valued at $4,297,000 after acquiring an additional 2,215 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Armstrong World Industries by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Armstrong World Industries by 25.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company’s stock worth $83,000 after purchasing an additional 130 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 1.8 %

NYSE AWI opened at $161.96 on Tuesday. Armstrong World Industries, Inc. has a 12 month low of $82.63 and a 12 month high of $164.40. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The stock has a market cap of $7.06 billion, a PE ratio of 28.56, a P/E/G ratio of 2.03 and a beta of 1.13. The stock’s 50 day moving average is $141.35 and its 200 day moving average is $127.07.

Armstrong World Industries (NYSE:AWI) last released 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. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the business posted $1.60 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is 21.69%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AWI. UBS Group boosted their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial lifted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased 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 note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.