Massachusetts Financial Services Co. MA grew its position in shares of Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 982,433 shares of the construction company’s stock after purchasing an additional 15,699 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Armstrong World Industries were worth $114,080,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Armstrong World Industries by 342.5% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the construction company’s stock valued at $43,000 after purchasing an additional 137 shares during the period. CWM LLC bought a new stake in shares of Armstrong World Industries in the fourth quarter worth $28,000. Clearstead Advisors LLC increased its stake in shares of Armstrong World Industries by 2,013.3% in the third quarter. Clearstead Advisors LLC now owns 317 shares of the construction company’s stock worth $30,000 after buying an additional 302 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Armstrong World Industries in the third quarter worth $36,000. Finally, PrairieView Partners LLC bought a new stake in shares of Armstrong World Industries in the fourth quarter worth $51,000. Institutional investors own 98.92% of the company’s stock.
In other news, SVP Mark A. Hershey sold 1,365 shares of the business’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $95.11, for a total transaction of $129,825.15. Following the completion of the transaction, the senior vice president now owns 45,053 shares of the company’s stock, valued at $4,284,990.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.
Armstrong World Industries (NYSE:AWI – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The construction company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.11). Armstrong World Industries had a net margin of 16.90% and a return on equity of 40.89%. The firm had revenue of $282.60 million for the quarter, compared to analyst estimates of $289.61 million. During the same period last year, the firm posted $0.84 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Armstrong World Industries, Inc. will post 5.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th will be issued a dividend of $0.231 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, May 4th. Armstrong World Industries’s dividend payout ratio (DPR) is 22.89%.
AWI has been the subject of a number of research analyst reports. Loop Capital dropped their price target on shares of Armstrong World Industries from $110.00 to $102.00 in a research note on Wednesday, February 23rd. TheStreet lowered shares of Armstrong World Industries from a “b-” rating to a “c+” rating in a research note on Monday, March 21st. Credit Suisse Group initiated coverage on shares of Armstrong World Industries in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $120.00 price target for the company. Truist Financial dropped their price target on shares of Armstrong World Industries from $124.00 to $110.00 in a research note on Wednesday, April 27th. Finally, Jefferies Financial Group raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $111.00 in a report on Monday, March 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of “Hold” and a consensus price target of $116.11.
Armstrong World Industries Profile (Get Rating)
Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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