Vanguard Group Inc. reduced its position in Armstrong World Industries Inc (NYSE:AWI) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,708,100 shares of the construction company’s stock after selling 487,558 shares during the quarter. Vanguard Group Inc. owned about 9.84% of Armstrong World Industries worth $367,044,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its stake in Armstrong World Industries by 113.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 363 shares of the construction company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Bank of Montreal Can raised its stake in Armstrong World Industries by 201.7% in the 2nd quarter. Bank of Montreal Can now owns 872 shares of the construction company’s stock valued at $65,000 after purchasing an additional 583 shares during the last quarter. First Mercantile Trust Co. acquired a new position in Armstrong World Industries in the 2nd quarter valued at $83,000. Northwestern Mutual Wealth Management Co. acquired a new position in Armstrong World Industries in the 1st quarter valued at $91,000. Finally, US Bancorp DE raised its stake in Armstrong World Industries by 24.2% in the 1st quarter. US Bancorp DE now owns 1,515 shares of the construction company’s stock valued at $120,000 after purchasing an additional 295 shares during the last quarter.
NYSE AWI opened at $66.68 on Thursday. The stock has a market cap of $3.19 billion, a PE ratio of -54.66, a P/E/G ratio of 9.55 and a beta of 1.12. The company has a current ratio of 2.04, a quick ratio of 1.57 and a debt-to-equity ratio of 1.51. Armstrong World Industries Inc has a twelve month low of $62.03 and a twelve month high of $111.46. The stock has a fifty day simple moving average of $72.75 and a 200-day simple moving average of $77.62.
Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, July 28th. The construction company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.16). Armstrong World Industries had a negative net margin of 5.64% and a positive return on equity of 56.59%. The firm had revenue of $202.50 million for the quarter, compared to analysts’ expectations of $221.05 million. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue was down 25.6% compared to the same quarter last year. Research analysts predict that Armstrong World Industries Inc will post 3.58 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, August 5th. Armstrong World Industries’s dividend payout ratio (DPR) is 16.74%.
Several analysts have issued reports on AWI shares. Exane BNP Paribas upgraded Armstrong World Industries from a “neutral” rating to an “outperform” rating in a report on Tuesday, June 30th. Zacks Investment Research cut Armstrong World Industries from a “hold” rating to a “strong sell” rating and set a $61.00 target price for the company. in a report on Friday, July 31st. Credit Suisse Group cut Armstrong World Industries from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $88.00 to $68.00 in a report on Wednesday, July 29th. BNP Paribas upgraded Armstrong World Industries from a “neutral” rating to an “outperform” rating and set a $86.50 target price for the company in a report on Tuesday, June 30th. Finally, Evercore ISI cut Armstrong World Industries from an “in-line” rating to an “underperform” rating and set a $73.00 target price for the company. in a report on Wednesday, July 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $88.17.
In related news, SVP Charles M. Chiappone sold 6,400 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $73.95, for a total transaction of $473,280.00. Following the completion of the transaction, the senior vice president now directly owns 32,271 shares in the company, valued at approximately $2,386,440.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.
About Armstrong World Industries
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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