Harvest Fund Management Co. Ltd Grows Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Harvest Fund Management Co. Ltd boosted its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 3,217.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 929 shares of the construction company’s stock after acquiring an additional 901 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Armstrong World Industries were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after purchasing an additional 51,839 shares during the period. Geode Capital Management LLC boosted its holdings in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after purchasing an additional 34,028 shares during the period. Madison Investment Advisors LLC bought a new position in Armstrong World Industries in the 4th quarter valued at $75,242,000. Natixis Advisors LLC boosted its holdings in Armstrong World Industries by 5.5% in the 4th quarter. Natixis Advisors LLC now owns 519,388 shares of the construction company’s stock valued at $73,405,000 after purchasing an additional 27,275 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 valued at $62,074,000 after purchasing an additional 18,333 shares during the period. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Performance

NYSE AWI opened at $140.88 on Friday. Armstrong World Industries, Inc. has a 52-week low of $110.68 and a 52-week high of $164.40. 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 company has a market capitalization of $6.12 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a fifty day moving average of $148.54 and a 200-day moving average of $144.68.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. The business 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 for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.87%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Wall Street Analysts Forecast Growth

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

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.