Raymond James & Associates Decreases Position in Armstrong World Industries Inc (AWI)

Raymond James & Associates decreased its position in shares of Armstrong World Industries Inc (NYSE:AWI) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,194 shares of the construction company’s stock after selling 4,318 shares during the quarter. Raymond James & Associates owned 0.18% of Armstrong World Industries worth $5,076,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Csenge Advisory Group acquired a new stake in shares of Armstrong World Industries during the third quarter worth about $368,000. First Hawaiian Bank lifted its holdings in Armstrong World Industries by 18.5% in the fourth quarter. First Hawaiian Bank now owns 8,525 shares of the construction company’s stock valued at $496,000 after acquiring an additional 1,330 shares during the period. Franklin Resources Inc. lifted its holdings in Armstrong World Industries by 16.0% in the third quarter. Franklin Resources Inc. now owns 51,188 shares of the construction company’s stock valued at $3,562,000 after acquiring an additional 7,042 shares during the period. Equitable Trust Co. acquired a new position in Armstrong World Industries in the third quarter valued at approximately $7,589,000. Finally, Federated Investors Inc. PA acquired a new position in Armstrong World Industries in the third quarter valued at approximately $1,186,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:AWI opened at $72.24 on Friday. Armstrong World Industries Inc has a 12-month low of $54.34 and a 12-month high of $75.67. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.01 and a beta of 1.83. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.37 and a quick ratio of 1.26.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, February 25th. The construction company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.03). The business had revenue of $238.90 million for the quarter, compared to analyst estimates of $239.46 million. Armstrong World Industries had a return on equity of 54.86% and a net margin of 19.06%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. On average, sell-side analysts anticipate that Armstrong World Industries Inc will post 4.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Tuesday, March 5th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, March 4th. Armstrong World Industries’s payout ratio is 19.13%.

In related news, insider Valueact Capital Master Fund, sold 1,725,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $73.69, for a total transaction of $127,115,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Holdings L.P. Valueact sold 456,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $73.25, for a total value of $33,402,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

AWI has been the subject of a number of analyst reports. Bank of America raised Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, January 4th. Nomura set a $72.00 price target on Armstrong World Industries and gave the company a “buy” rating in a report on Monday, December 17th. KeyCorp boosted their price target on Armstrong World Industries from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, February 26th. Zelman & Associates raised Armstrong World Industries from a “sell” rating to a “hold” rating and set a $73.05 price target for the company in a report on Wednesday, March 6th. Finally, Zacks Investment Research downgraded Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $76.88.

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Armstrong World Industries Company Profile

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.

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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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