Verdence Capital Advisors LLC Decreases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Verdence Capital Advisors LLC decreased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 15.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,567 shares of the construction company’s stock after selling 466 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Armstrong World Industries were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AWI. Natixis Advisors LLC lifted its position in Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after acquiring an additional 67,798 shares during the period. State Street Corp lifted its holdings in shares of Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after buying an additional 51,839 shares during the period. Geode Capital Management LLC raised its position in Armstrong World Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after acquiring an additional 34,028 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Armstrong World Industries by 11.0% in the fourth quarter. Allianz Asset Management GmbH now owns 310,723 shares of the construction company’s stock valued at $43,914,000 after acquiring an additional 30,878 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Armstrong World Industries by 166.2% during the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock worth $6,417,000 after purchasing an additional 30,570 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AWI shares. Truist Financial increased their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group increased their target price on shares of 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 downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, UBS Group upped their price target on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Stock Performance

Shares of AWI opened at $149.84 on Friday. Armstrong World Industries, Inc. has a 12-month low of $110.68 and a 12-month high of $164.40. The stock 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 1.19. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average of $148.58 and a two-hundred day moving average of $143.23.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The firm had revenue of $367.70 million during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. As a group, research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a $0.308 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.23 annualized dividend and a dividend yield of 0.82%. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

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.