Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 635,168 shares of the construction company’s stock after selling 5,256 shares during the quarter. Bank of America Corp DE owned 1.46% of Armstrong World Industries worth $89,768,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AWI. Quent Capital LLC raised its holdings in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after purchasing an additional 170 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Armstrong World Industries in the 4th quarter valued at $43,000. Farther Finance Advisors LLC raised its holdings in shares of Armstrong World Industries by 90.2% in the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock valued at $60,000 after purchasing an additional 202 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Armstrong World Industries by 196.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company’s stock valued at $80,000 after purchasing an additional 376 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Armstrong World Industries by 107.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock valued at $95,000 after purchasing an additional 349 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of AWI opened at $152.50 on Monday. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The stock has a market cap of $6.62 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The firm has a fifty day moving average price of $140.31 and a 200 day moving average price of $146.58.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. During the same period last year, the firm posted $1.38 EPS. Armstrong World Industries’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries’s payout ratio is currently 19.68%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AWI. The Goldman Sachs Group raised their price objective 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. Truist Financial raised their price objective 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. Loop Capital cut their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, UBS Group boosted their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $155.50.

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.