Price T Rowe Associates Inc. MD Sells 91,588 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Price T Rowe Associates Inc. MD lowered its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,494,963 shares of the construction company’s stock after selling 91,588 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.42% of Armstrong World Industries worth $185,705,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in Armstrong World Industries by 211.3% in the fourth quarter. State of Alaska Department of Revenue now owns 40,042 shares of the construction company’s stock valued at $3,936,000 after buying an additional 27,179 shares in the last quarter. JB Capital LLC acquired a new stake in Armstrong World Industries in the fourth quarter valued at about $229,000. Oak Thistle LLC boosted its stake in Armstrong World Industries by 43.0% in the fourth quarter. Oak Thistle LLC now owns 5,190 shares of the construction company’s stock valued at $510,000 after buying an additional 1,560 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Armstrong World Industries in the fourth quarter valued at about $1,082,000. Finally, Bleakley Financial Group LLC boosted its stake in Armstrong World Industries by 7.4% in the fourth quarter. Bleakley Financial Group LLC now owns 5,025 shares of the construction company’s stock valued at $494,000 after buying an additional 347 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Down 0.9 %

Shares of AWI stock traded down $1.24 during mid-day trading on Monday, reaching $130.01. 107,222 shares of the stock traded hands, compared to its average volume of 341,272. The stock’s fifty day simple moving average is $116.41 and its two-hundred day simple moving average is $114.75. Armstrong World Industries, Inc. has a 1-year low of $68.35 and a 1-year high of $133.18. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. During the same period last year, the firm posted $1.12 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Armstrong World Industries, Inc. will post 5.89 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, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

Several analysts recently weighed in on AWI shares. UBS Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI raised their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

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.