Armstrong World Industries (NYSE:AWI) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other brokerages also recently issued reports on AWI. The Goldman Sachs Group upped their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Truist Financial upped their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, UBS Group increased 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Trading Up 0.7 %

Shares of NYSE:AWI opened at $149.84 on Thursday. The company has a market cap of $6.51 billion, a P/E ratio of 26.43, a PEG ratio of 1.60 and a beta of 1.25. 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 has a 1 year low of $110.68 and a 1 year high of $164.40. The stock’s fifty day moving average price is $148.70 and its 200-day moving average price is $143.58.

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

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is 20.40%.

Institutional Trading of Armstrong World Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in Armstrong World Industries in the fourth quarter worth about $338,000. Public Employees Retirement System of Ohio purchased a new stake in Armstrong World Industries in the fourth quarter worth about $2,326,000. Burgundy Asset Management Ltd. increased its position in Armstrong World Industries by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after buying an additional 19,787 shares in the last quarter. Taylor Hoffman Capital Management LLC increased its position in Armstrong World Industries by 0.7% in the fourth quarter. Taylor Hoffman Capital Management LLC now owns 43,677 shares of the construction company’s stock worth $6,173,000 after buying an additional 293 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new stake in Armstrong World Industries in the fourth quarter worth about $223,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.