River Road Asset Management LLC Sells 651,754 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

River Road Asset Management LLC trimmed its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,428,071 shares of the construction company’s stock after selling 651,754 shares during the period. Armstrong World Industries comprises 1.9% of River Road Asset Management LLC’s holdings, making the stock its 9th largest position. River Road Asset Management LLC owned approximately 3.23% of Armstrong World Industries worth $140,408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Armstrong World Industries by 26.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,329 shares of the construction company’s stock worth $917,000 after acquiring an additional 1,932 shares during the period. Wealth Alliance purchased a new position in Armstrong World Industries during the fourth quarter worth approximately $235,000. Louisiana State Employees Retirement System purchased a new position in Armstrong World Industries during the fourth quarter worth approximately $2,173,000. Simplicity Solutions LLC boosted its position in Armstrong World Industries by 5.2% during the fourth quarter. Simplicity Solutions LLC now owns 4,923 shares of the construction company’s stock worth $484,000 after purchasing an additional 245 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Armstrong World Industries during the fourth quarter worth approximately $622,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Trading Down 0.8 %

Shares of AWI stock traded down $0.96 on Wednesday, hitting $114.69. The stock had a trading volume of 258,505 shares, compared to its average volume of 375,921. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.07. The firm has a market capitalization of $5.02 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.79 and a beta of 1.12. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The company’s 50 day moving average price is $118.41 and its 200-day moving average price is $98.48.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.18. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The company had revenue of $312.30 million for the quarter, compared to the consensus estimate of $305.44 million. During the same quarter in the prior year, the business earned $1.08 EPS. Armstrong World Industries’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.98%. Armstrong World Industries’s dividend payout ratio (DPR) is 22.40%.

Wall Street Analyst Weigh In

AWI has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Truist Financial increased their price target on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. UBS Group upgraded Armstrong World Industries from a “sell” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $103.00 in a research report on Thursday, January 4th. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.29.

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.