Yacktman Asset Management LP Sells 8,954 Shares of Armstrong World Industries, Inc. $AWI

Yacktman Asset Management LP reduced its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 861,335 shares of the construction company’s stock after selling 8,954 shares during the period. Armstrong World Industries comprises about 1.9% of Yacktman Asset Management LP’s investment portfolio, making the stock its 23rd biggest position. Yacktman Asset Management LP owned 1.99% of Armstrong World Industries worth $139,915,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Armstrong World Industries by 28.9% during the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company’s stock valued at $75,000 after purchasing an additional 103 shares during the last quarter. Covestor Ltd increased its position in Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company’s stock valued at $83,000 after acquiring an additional 170 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Armstrong World Industries in the 1st quarter valued at about $91,000. Archer Investment Corp acquired a new stake in Armstrong World Industries in the 1st quarter valued at about $113,000. Finally, Quarry LP increased its position in Armstrong World Industries by 38.2% in the 1st quarter. Quarry LP now owns 1,046 shares of the construction company’s stock valued at $147,000 after acquiring an additional 289 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AWI has been the subject of several research reports. Wall Street Zen cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Sunday. Evercore ISI raised their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Armstrong World Industries from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Vertical Research initiated coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They issued a “buy” rating and a $238.00 price objective for the company. Finally, UBS Group raised their price objective on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.50.

Armstrong World Industries Stock Up 0.9%

Shares of NYSE:AWI opened at $191.62 on Thursday. Armstrong World Industries, Inc. has a one year low of $122.37 and a one year high of $206.08. The company has a 50 day moving average of $196.39 and a 200-day moving average of $175.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.52 and a quick ratio of 1.11. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 1.87 and a beta of 1.41.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 EPS for the quarter. The company had revenue of $325.00 million during the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a dividend of $0.339 per share. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, November 6th. Armstrong World Industries’s dividend payout ratio is presently 19.31%.

Armstrong World Industries Company 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.