Oak Thistle LLC Cuts Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Oak Thistle LLC cut its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 50.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,037 shares of the construction company’s stock after selling 3,083 shares during the period. Oak Thistle LLC’s holdings in Armstrong World Industries were worth $429,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Choreo LLC purchased a new position in shares of Armstrong World Industries in the second quarter worth $204,000. American Century Companies Inc. grew its holdings in Armstrong World Industries by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 76,945 shares of the construction company’s stock worth $8,713,000 after acquiring an additional 8,841 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Armstrong World Industries in the second quarter valued at about $129,000. Oppenheimer Asset Management Inc. raised its stake in shares of Armstrong World Industries by 15.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,923 shares of the construction company’s stock valued at $1,124,000 after acquiring an additional 1,361 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after purchasing an additional 67,954 shares during the period. 98.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AWI has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Loop Capital upped their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $148.06 on Friday. 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 stock has a 50-day simple moving average of $150.74 and a two-hundred day simple moving average of $135.89. The firm has a market capitalization of $6.45 billion, a PE ratio of 26.11, a P/E/G ratio of 1.63 and a beta of 1.18. Armstrong World Industries, Inc. has a 52-week low of $96.69 and a 52-week high of $164.40.

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, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period last year, the firm earned $1.60 EPS. The company’s revenue was up 11.3% on a year-over-year basis. Analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is 21.69%.

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.