Yacktman Asset Management LP Sells 10,166 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Yacktman Asset Management LP lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,161,243 shares of the construction company’s stock after selling 10,166 shares during the period. Yacktman Asset Management LP owned 2.63% of Armstrong World Industries worth $114,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AWI. SG Americas Securities LLC grew its position in shares of Armstrong World Industries by 29.3% during the 3rd quarter. SG Americas Securities LLC now owns 12,992 shares of the construction company’s stock valued at $935,000 after purchasing an additional 2,946 shares in the last quarter. DAVENPORT & Co LLC grew its position in Armstrong World Industries by 2.4% during the third quarter. DAVENPORT & Co LLC now owns 14,344 shares of the construction company’s stock worth $1,033,000 after buying an additional 341 shares in the last quarter. Simplicity Solutions LLC raised its holdings in shares of Armstrong World Industries by 11.2% in the 3rd quarter. Simplicity Solutions LLC now owns 4,678 shares of the construction company’s stock valued at $337,000 after acquiring an additional 470 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its position in shares of Armstrong World Industries by 36.8% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 6,150 shares of the construction company’s stock valued at $443,000 after acquiring an additional 1,655 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Armstrong World Industries by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 4,047 shares of the construction company’s stock worth $291,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

AWI has been the subject of a number of research reports. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group increased their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group raised shares of Armstrong World Industries from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $75.00 to $103.00 in a research note on Thursday, January 4th. Finally, Truist Financial lifted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Armstrong World Industries presently has an average rating of “Moderate Buy” and an average target price of $100.17.

Armstrong World Industries Trading Up 1.6 %

Shares of NYSE:AWI traded up $1.86 on Friday, hitting $117.62. The company had a trading volume of 85,009 shares, compared to its average volume of 363,112. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The firm’s 50-day simple moving average is $119.86 and its two-hundred day simple moving average is $100.25. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 1.78 and a beta of 1.12.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The company had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Equities analysts anticipate that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s payout ratio is currently 22.40%.

About Armstrong World Industries

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.