Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 206,950 shares of the construction company’s stock after selling 7,611 shares during the quarter. Armstrong World Industries comprises approximately 1.5% of Rice Hall James & Associates LLC’s holdings, making the stock its 18th largest position. Rice Hall James & Associates LLC’s holdings in Armstrong World Industries were worth $27,199,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AWI. Blue Trust Inc. grew its stake in shares of Armstrong World Industries by 5.9% in the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock worth $188,000 after acquiring an additional 79 shares in the last quarter. US Bancorp DE increased its position in shares of Armstrong World Industries by 13.9% in the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after purchasing an additional 82 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Armstrong World Industries by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. CWM LLC lifted its position in shares of Armstrong World Industries by 17.3% during the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after purchasing an additional 95 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Armstrong World Industries by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock worth $2,491,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AWI shares. Truist Financial raised their price target on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $139.55 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. The business has a 50 day simple moving average of $131.62 and a 200-day simple moving average of $122.52. Armstrong World Industries, Inc. has a 12 month low of $74.37 and a 12 month high of $143.07. The stock has a market capitalization of $6.08 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. Armstrong World Industries’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. Equities analysts predict that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is currently 21.69%.

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.