Legal & General Group Plc Has $18.97 Million Position in Armstrong World Industries, Inc. (NYSE:AWI)

Legal & General Group Plc cut its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,245 shares of the construction company’s stock after selling 963 shares during the quarter. Legal & General Group Plc’s holdings in Armstrong World Industries were worth $18,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in Armstrong World Industries in the fourth quarter valued at about $32,000. Quent Capital LLC grew its stake in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after buying an additional 170 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Armstrong World Industries in the fourth quarter worth approximately $33,000. Twin Tree Management LP bought a new position in Armstrong World Industries during the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC lifted its stake in Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock valued at $60,000 after acquiring an additional 202 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

NYSE AWI opened at $134.99 on Tuesday. The stock has a market capitalization of $5.87 billion, a PE ratio of 23.81, a P/E/G ratio of 1.60 and a beta of 1.20. The stock has a 50-day simple moving average of $144.10 and a 200 day simple moving average of $145.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40.

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

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.91%. Armstrong World Industries’s payout ratio is 20.40%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AWI shares. Truist Financial increased their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. UBS Group raised their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group raised their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries has a consensus 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.