Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,693 shares of the construction company’s stock after selling 484 shares during the period. Mackenzie Financial Corp’s holdings in Armstrong World Industries were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AWI. FMR LLC increased its position in shares of Armstrong World Industries by 25.9% during the third quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock valued at $117,068,000 after acquiring an additional 334,065 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Armstrong World Industries by 18.3% in the third quarter. Van Berkom & Associates Inc. now owns 1,080,384 shares of the construction company’s stock valued at $77,788,000 after purchasing an additional 167,169 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Armstrong World Industries by 55.9% in the third quarter. Envestnet Asset Management Inc. now owns 223,178 shares of the construction company’s stock valued at $16,069,000 after purchasing an additional 79,995 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Armstrong World Industries by 45.2% in the third quarter. AQR Capital Management LLC now owns 208,550 shares of the construction company’s stock valued at $15,016,000 after purchasing an additional 64,937 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Armstrong World Industries by 1.2% in the third quarter. Vanguard Group Inc. now owns 4,245,468 shares of the construction company’s stock valued at $305,674,000 after purchasing an additional 51,504 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AWI shares. Truist Financial lifted their price objective on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group upgraded shares of Armstrong World Industries from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $103.00 in a research note on Thursday, January 4th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Armstrong World Industries presently has an average rating of “Moderate Buy” and an average price target of $104.60.

Armstrong World Industries Stock Up 1.1 %

Shares of NYSE:AWI opened at $116.98 on Monday. The company has a market capitalization of $5.12 billion, a PE ratio of 23.40, a P/E/G ratio of 1.79 and a beta of 1.12. The company has a current ratio of 1.61, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99. Armstrong World Industries, Inc. has a twelve month low of $62.03 and a twelve month high of $125.56. The firm has a 50 day simple moving average of $120.09 and a 200-day simple moving average of $100.95.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.04 by $0.18. Armstrong World Industries had a net margin of 17.28% and a return on equity of 41.56%. The firm had revenue of $312.30 million during the quarter, compared to the consensus estimate of $305.44 million. During the same quarter in the prior year, the firm earned $1.08 EPS. Armstrong World Industries’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts predict that Armstrong World Industries, Inc. will post 5.74 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.12 annualized dividend and a yield of 0.96%. Armstrong World Industries’s dividend payout ratio (DPR) is 22.40%.

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.