Armstrong World Industries, Inc. $AWI Position Trimmed by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd decreased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 64.4% in the 2nd quarter, Holdings Channel reports. The firm owned 231 shares of the construction company’s stock after selling 417 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Armstrong World Industries were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AWI. GAMMA Investing LLC grew its position in shares of Armstrong World Industries by 9.2% during the first quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company’s stock worth $283,000 after acquiring an additional 169 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Armstrong World Industries by 113.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company’s stock worth $672,000 after acquiring an additional 2,538 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after acquiring an additional 140 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Armstrong World Industries during the first quarter worth about $892,000. Finally, Illinois Municipal Retirement Fund grew its position in shares of Armstrong World Industries by 1.2% during the first quarter. Illinois Municipal Retirement Fund now owns 23,920 shares of the construction company’s stock worth $3,370,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

AWI stock opened at $203.45 on Friday. The company has a market capitalization of $8.80 billion, a P/E ratio of 30.10, a PEG ratio of 2.04 and a beta of 1.45. The company has a 50-day simple moving average of $196.79 and a 200 day simple moving average of $172.36. Armstrong World Industries, Inc. has a fifty-two week low of $122.37 and a fifty-two week high of $205.97. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The company had revenue of $325.00 million during the quarter. Sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be issued a $0.339 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 6th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s dividend payout ratio is currently 18.20%.

Analysts Set New Price Targets

Several research firms have recently commented on AWI. Zacks Research lowered shares of Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Evercore ISI upped their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 30th. Bank of America upped their price objective on shares of Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Vertical Research assumed coverage on shares of Armstrong World Industries in a report on Monday, October 20th. They issued a “buy” rating and a $238.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of Armstrong World Industries from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average price target of $202.25.

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.