Rice Hall James & Associates LLC Trims Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Rice Hall James & Associates LLC trimmed its position in Armstrong World Industries, Inc. (NYSE:AWI) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,950 shares of the construction company’s stock after selling 7,611 shares during the quarter. Armstrong World Industries accounts for 1.5% of Rice Hall James & Associates LLC’s holdings, making the stock its 18th largest holding. Rice Hall James & Associates LLC owned about 0.47% of Armstrong World Industries worth $27,199,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Armstrong World Industries during the first quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in shares of Armstrong World Industries in the 3rd quarter valued at about $31,000. First Horizon Advisors Inc. grew its position in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after buying an additional 125 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Armstrong World Industries by 53.7% during the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after acquiring an additional 153 shares in the last quarter. Finally, CWM LLC lifted its position in Armstrong World Industries by 17.3% during the second quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AWI has been the topic of several analyst reports. UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group upped their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI raised their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, Loop Capital lifted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $139.55 on Friday. The firm has a fifty day moving average of $131.62 and a 200 day moving average of $122.52. Armstrong World Industries, Inc. has a one year low of $74.37 and a one year high of $143.07. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The firm has a market cap of $6.08 billion, a PE ratio of 24.61, a PEG ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same period in the prior year, the business earned $1.60 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, research analysts predict that Armstrong World Industries, Inc. will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a $0.308 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is currently 21.69%.

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.