Armstrong World Industries, Inc. (NYSE:AWI) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,299 shares of the construction company’s stock after buying an additional 909 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Armstrong World Industries were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its position in shares of Armstrong World Industries by 149.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 24,104 shares of the construction company’s stock valued at $1,735,000 after acquiring an additional 14,427 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Armstrong World Industries by 7.5% during the third quarter. Principal Financial Group Inc. now owns 4,219 shares of the construction company’s stock worth $304,000 after purchasing an additional 295 shares during the period. California Public Employees Retirement System lifted its position in shares of Armstrong World Industries by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 83,978 shares of the construction company’s stock worth $6,046,000 after buying an additional 1,820 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Armstrong World Industries by 182.0% in the 3rd quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock valued at $28,000 after buying an additional 253 shares during the period. Finally, NBC Securities Inc. bought a new stake in shares of Armstrong World Industries during the 3rd quarter valued at about $510,000. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

Shares of NYSE AWI opened at $114.83 on Thursday. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56. The firm has a market cap of $5.02 billion, a P/E ratio of 21.58, a PEG ratio of 1.73 and a beta of 1.12. The stock has a fifty day moving average price of $118.51 and a two-hundred day moving average price of $106.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.79.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The business had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $319.44 million. During the same quarter last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Armstrong World Industries, Inc. will post 5.89 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AWI. The Goldman Sachs Group upped their target price on Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group increased their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, March 28th. Evercore ISI increased their price objective on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. Finally, Truist Financial boosted their target price on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $110.17.

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.