Envestnet Asset Management Inc. Boosts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Envestnet Asset Management Inc. grew its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 335,362 shares of the construction company’s stock after purchasing an additional 3,854 shares during the period. Envestnet Asset Management Inc.’s holdings in Armstrong World Industries were worth $47,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wells Fargo & Company MN raised its position in shares of Armstrong World Industries by 2.3% during the 4th quarter. Wells Fargo & Company MN now owns 245,766 shares of the construction company’s stock worth $34,734,000 after acquiring an additional 5,566 shares in the last quarter. Geode Capital Management LLC increased its stake in Armstrong World Industries by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company’s stock valued at $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Franklin Resources Inc. raised its holdings in Armstrong World Industries by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 28,478 shares of the construction company’s stock worth $4,025,000 after purchasing an additional 5,496 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Armstrong World Industries by 12.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,714 shares of the construction company’s stock worth $1,090,000 after buying an additional 869 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Armstrong World Industries by 10.9% in the 4th quarter. Schroder Investment Management Group now owns 181,184 shares of the construction company’s stock valued at $25,712,000 after buying an additional 17,774 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $132.87 on Friday. The stock has a fifty day moving average price of $144.74 and a 200 day moving average price of $145.76. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a market cap of $5.77 billion, a PE ratio of 23.43, a P/E/G ratio of 1.60 and a beta of 1.20.

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

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Armstrong World Industries 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.