Vaughan Nelson Investment Management L.P. Has $23.82 Million Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

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Vaughan Nelson Investment Management L.P. decreased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 30.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 346,105 shares of the construction company’s stock after selling 151,005 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.72% of Armstrong World Industries worth $23,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Morgan Stanley raised its stake in Armstrong World Industries by 78.0% in the first quarter. Morgan Stanley now owns 70,958 shares of the construction company’s stock valued at $5,636,000 after buying an additional 31,093 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Armstrong World Industries during the 2nd quarter valued at $5,690,000. Cerebellum GP LLC bought a new stake in Armstrong World Industries during the 2nd quarter worth approximately $129,000. First Trust Advisors LP raised its stake in shares of Armstrong World Industries by 149.6% during the second quarter. First Trust Advisors LP now owns 44,665 shares of the construction company’s stock valued at $3,482,000 after acquiring an additional 26,767 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new stake in shares of Armstrong World Industries in the second quarter worth $224,000.

A number of equities analysts have recently issued reports on the company. Truist lowered their price objective on Armstrong World Industries from $78.00 to $85.00 in a research report on Wednesday, October 28th. Zacks Investment Research upgraded shares of Armstrong World Industries from a “strong sell” rating to a “hold” rating and set a $74.00 price objective for the company in a research report on Tuesday, September 29th. The Goldman Sachs Group lowered shares of Armstrong World Industries from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, September 30th. Evercore ISI lowered Armstrong World Industries from an “in-line” rating to an “underperform” rating and set a $73.00 price objective for the company. in a research report on Wednesday, July 29th. Finally, Bank of America cut Armstrong World Industries from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $88.00 to $75.00 in a research note on Wednesday, October 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $87.68.

Shares of AWI opened at $76.18 on Tuesday. The firm has a market capitalization of $3.65 billion, a P/E ratio of -48.52 and a beta of 1.16. Armstrong World Industries, Inc. has a 52 week low of $57.96 and a 52 week high of $111.46. The stock has a 50 day moving average price of $67.20 and a two-hundred day moving average price of $72.30. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.86 and a current ratio of 2.44.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Sunday, November 1st. The construction company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.13. The business had revenue of $246.30 million during the quarter, compared to analyst estimates of $231.08 million. Armstrong World Industries had a positive return on equity of 49.60% and a negative net margin of 7.85%. Armstrong World Industries’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. On average, equities analysts forecast that Armstrong World Industries, Inc. will post 3.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.21 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.10%. Armstrong World Industries’s payout ratio is currently 17.57%.

In other news, SVP Charles M. Chiappone sold 6,400 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $73.95, for a total transaction of $473,280.00. Following the completion of the transaction, the senior vice president now directly owns 32,271 shares of the company’s stock, valued at approximately $2,386,440.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

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 in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

Further Reading: Hedge Funds – Risk or Reward?

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

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