Kayne Anderson Rudnick Investment Management LLC Sells 8,634 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,330,071 shares of the construction company’s stock after selling 8,634 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.05% of Armstrong World Industries worth $187,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC increased its position in shares of Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after acquiring an additional 170 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Armstrong World Industries during the fourth quarter worth about $43,000. Farther Finance Advisors LLC increased its position in shares of Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock worth $60,000 after acquiring an additional 202 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Armstrong World Industries by 196.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company’s stock worth $80,000 after acquiring an additional 376 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Armstrong World Industries during the fourth quarter worth about $114,000. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AWI shares. Loop Capital decreased their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Truist Financial boosted their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. UBS Group boosted their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.57.

Armstrong World Industries Stock Down 0.5%

AWI opened at $154.40 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The company’s 50-day moving average price is $143.10 and its two-hundred day moving average price is $147.62.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The firm had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, equities analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, May 8th. Armstrong World Industries’s payout ratio is currently 19.68%.

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.