Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Southernsun Asset Management LLC

Southernsun Asset Management LLC reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 247,543 shares of the construction company’s stock after selling 20,790 shares during the quarter. Armstrong World Industries comprises approximately 3.9% of Southernsun Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Southernsun Asset Management LLC owned about 0.57% of Armstrong World Industries worth $32,535,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. grew its holdings in shares of Armstrong World Industries by 1,369.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after purchasing an additional 229,378 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Armstrong World Industries by 46.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after acquiring an additional 145,133 shares during the period. Natixis Advisors LLC boosted its holdings in Armstrong World Industries by 35.0% during the 2nd quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after acquiring an additional 110,111 shares during the period. Squarepoint Ops LLC boosted its holdings in Armstrong World Industries by 171.0% during the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after acquiring an additional 79,475 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Armstrong World Industries by 27.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after acquiring an additional 67,954 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AWI has been the subject of a number of research analyst reports. Loop Capital raised their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Evercore ISI increased their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. UBS Group increased their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial raised their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Stock Down 0.6 %

Armstrong World Industries stock opened at $158.91 on Friday. The stock’s 50 day moving average price is $145.44 and its 200 day moving average price is $129.15. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a market cap of $6.93 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. Armstrong World Industries, Inc. has a 1-year low of $90.93 and a 1-year high of $164.40.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 earnings per share. On average, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.78%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is presently 21.69%.

Armstrong World Industries 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.