Los Angeles Capital Management LLC Reduces Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Los Angeles Capital Management LLC lessened its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 425,358 shares of the construction company’s stock after selling 19,893 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Armstrong World Industries were worth $60,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC boosted its holdings in shares of Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after acquiring an additional 67,798 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Armstrong World Industries by 32.9% during the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock valued at $2,625,000 after acquiring an additional 4,945 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after acquiring an additional 34,028 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Armstrong World Industries by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after buying an additional 5,191 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Armstrong World Industries in the third quarter worth approximately $1,035,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Evercore ISI raised 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 report on Wednesday, October 30th. UBS Group raised their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Loop Capital raised 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. Finally, StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and a consensus target price of $142.60.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $145.85 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The company has a market capitalization of $6.36 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.60 and a beta of 1.19. The firm’s 50 day simple moving average is $147.46 and its two-hundred day simple moving average is $141.81.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 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.