Armstrong World Industries, Inc. $AWI Shares Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,275 shares of the construction company’s stock after selling 27,658 shares during the quarter. Armstrong World Industries accounts for about 2.5% of Van Berkom & Associates Inc.’s holdings, making the stock its 12th biggest position. Van Berkom & Associates Inc.’s holdings in Armstrong World Industries were worth $70,808,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in shares of Armstrong World Industries in the second quarter valued at approximately $4,700,000. Assenagon Asset Management S.A. grew its holdings in Armstrong World Industries by 88.4% during the second quarter. Assenagon Asset Management S.A. now owns 136,597 shares of the construction company’s stock worth $21,913,000 after acquiring an additional 64,077 shares during the period. Danske Bank A S acquired a new position in Armstrong World Industries during the second quarter worth $531,000. Bank of America Corp DE raised its position in Armstrong World Industries by 5.2% in the first quarter. Bank of America Corp DE now owns 457,619 shares of the construction company’s stock worth $75,416,000 after acquiring an additional 22,477 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Armstrong World Industries by 28.3% in the first quarter. Bessemer Group Inc. now owns 46,058 shares of the construction company’s stock worth $7,591,000 after acquiring an additional 10,165 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

AWI has been the subject of a number of recent analyst reports. Truist Financial reduced their target price on Armstrong World Industries from $230.00 to $210.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. UBS Group decreased their target price on shares of Armstrong World Industries from $203.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lowered their price target on shares of Armstrong World Industries from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings upgraded shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Finally, DA Davidson set a $200.00 price target on shares of Armstrong World Industries in a report on Wednesday, October 28th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries has a consensus rating of “Moderate Buy” and an average price target of $203.12.

Armstrong World Industries Price Performance

AWI stock opened at $178.89 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 1.45. The firm has a market cap of $7.48 billion, a P/E ratio of 23.88, a PEG ratio of 1.74 and a beta of 1.14. Armstrong World Industries, Inc. has a 1 year low of $150.28 and a 1 year high of $206.04. The stock’s 50 day moving average price is $165.74 and its 200 day moving average price is $169.21.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, October 27th. The construction company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.13). Armstrong World Industries had a return on equity of 38.06% and a net margin of 18.38%. The company had revenue of $475.80 million for the quarter, compared to analysts’ expectations of $472.62 million. During the same quarter in the prior year, the business posted $2.05 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Armstrong World Industries, Inc. will post 8.32 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.3730 per share. This represents a $1.49 annualized dividend and a dividend yield of 0.8%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.3390. The ex-dividend date is Thursday, November 5th. Armstrong World Industries’s payout ratio is 18.16%.

Armstrong World Industries announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 21st that authorizes the company to repurchase $800 million in shares. This buyback authorization authorizes the construction company to repurchase up to 12.3% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Armstrong World Industries Profile

Armstrong World Industries, Inc develops and manufactures ceiling and wall systems for commercial and residential buildings. Its products include acoustical ceiling panels and suspension systems, metal and wood ceilings, wall panels, and architectural specialty products designed for construction, renovation, and interior design projects.

The company serves customers primarily in North America, including building owners, contractors, architects, and distributors. Its products are used in settings such as offices, schools, healthcare facilities, and homes.

Armstrong traces its origins to a cork-cutting business founded by Thomas M.