Yacktman Asset Management LP Reduces Position in Armstrong World Industries, Inc. (NYSE:AWI)

Yacktman Asset Management LP lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,161,243 shares of the construction company’s stock after selling 10,166 shares during the period. Yacktman Asset Management LP’s holdings in Armstrong World Industries were worth $114,173,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AWI. Signaturefd LLC boosted its position in shares of Armstrong World Industries by 182.0% during the 3rd quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Armstrong World Industries during the 4th quarter worth approximately $49,000. SRS Capital Advisors Inc. raised its position in shares of Armstrong World Industries by 19.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,209 shares of the construction company’s stock valued at $159,000 after buying an additional 363 shares during the period. Legato Capital Management LLC purchased a new position in Armstrong World Industries in the fourth quarter worth approximately $224,000. Finally, JB Capital LLC acquired a new stake in Armstrong World Industries during the fourth quarter worth $229,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 1.6 %

AWI stock traded up $1.86 during midday trading on Friday, hitting $117.62. The company’s stock had a trading volume of 85,009 shares, compared to its average volume of 363,112. The firm has a 50-day simple moving average of $119.86 and a 200-day simple moving average of $100.25. The firm has a market capitalization of $5.15 billion, a P/E ratio of 23.15, a PEG ratio of 1.78 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. Armstrong World Industries, Inc. has a 52-week low of $62.03 and a 52-week high of $125.56.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The business had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $305.44 million. During the same period last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Armstrong World Industries, Inc. will post 5.74 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is presently 22.40%.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of research analyst reports. Truist Financial increased their price target on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. UBS Group upgraded shares of Armstrong World Industries from a “sell” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $103.00 in a report on Thursday, January 4th. Finally, The Goldman Sachs Group raised their price target on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries has an average rating of “Moderate Buy” and a consensus target price of $100.17.

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.