Armstrong World Industries, Inc. $AWI Shares Sold by Orion Porfolio Solutions LLC

Orion Porfolio Solutions LLC cut its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 17.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,823 shares of the construction company’s stock after selling 4,220 shares during the period. Orion Porfolio Solutions LLC’s holdings in Armstrong World Industries were worth $3,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Armstrong World Industries by 0.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company’s stock worth $188,615,000 after purchasing an additional 8,762 shares during the last quarter. Burgundy Asset Management Ltd. increased its stake in Armstrong World Industries by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,321,078 shares of the construction company’s stock valued at $214,596,000 after buying an additional 38,082 shares during the period. Geode Capital Management LLC raised its position in Armstrong World Industries by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company’s stock worth $153,248,000 after buying an additional 7,378 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Armstrong World Industries by 121.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company’s stock worth $119,718,000 after acquiring an additional 404,000 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Armstrong World Industries by 0.3% in the 2nd quarter. Invesco Ltd. now owns 682,445 shares of the construction company’s stock worth $110,856,000 after acquiring an additional 1,823 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AWI shares. Zacks Research cut shares of Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, October 8th. Truist Financial raised their price target on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wall Street Zen lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Vertical Research initiated coverage on 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.50.

Armstrong World Industries Stock Performance

AWI opened at $184.40 on Thursday. Armstrong World Industries, Inc. has a 1-year low of $122.37 and a 1-year high of $206.08. The stock has a market cap of $7.95 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.82 and a beta of 1.30. The stock’s 50 day simple moving average is $190.25 and its 200 day simple moving average is $183.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.52 and a quick ratio of 1.04.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The firm had revenue of $325.00 million during the quarter. Armstrong World Industries had a return on equity of 38.97% and a net margin of 19.08%. As a group, equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.339 per share. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, November 6th. This represents a $1.36 annualized dividend and a yield of 0.7%. Armstrong World Industries’s payout ratio is 19.46%.

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.