William Blair Investment Management LLC Sells 23,495 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

William Blair Investment Management LLC lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,527 shares of the construction company’s stock after selling 23,495 shares during the period. William Blair Investment Management LLC’s holdings in Armstrong World Industries were worth $34,418,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in Armstrong World Industries during the fourth quarter valued at about $43,000. Corient Private Wealth LLC grew its holdings in Armstrong World Industries by 1.1% during the fourth quarter. Corient Private Wealth LLC now owns 14,267 shares of the construction company’s stock valued at $2,016,000 after purchasing an additional 160 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Armstrong World Industries by 7.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company’s stock valued at $1,069,000 after purchasing an additional 555 shares during the period. Globeflex Capital L P grew its holdings in Armstrong World Industries by 90.0% during the fourth quarter. Globeflex Capital L P now owns 1,900 shares of the construction company’s stock valued at $269,000 after purchasing an additional 900 shares during the period. Finally, Natixis Advisors LLC grew its holdings in Armstrong World Industries by 5.5% during the fourth 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. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $141.45 on Wednesday. The stock’s 50-day simple moving average is $148.57 and its 200-day simple moving average is $144.47. Armstrong World Industries, Inc. has a 52 week low of $110.68 and a 52 week high of $164.40. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.60 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The company 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 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 business earned $1.22 earnings per share. As a group, analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. The Goldman Sachs Group boosted 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. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. UBS Group boosted their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Truist Financial boosted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and an average price target of $153.33.

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.