Insider Sale: Armstrong World Industries, Inc. (NYSE: AWI) SVP Sells 12,500 Shares
Armstrong World Industries, Inc. (NYSE: AWI) SVP Charles M. Chiappone sold 12,500 shares of the company in a transaction that took place on Tuesday, September 14. The stock was sold for an average price of $ 99.98, for a total value of $ 1,249,750.00. The sale was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website.
Armstrong World Industries stock traded down $ 0.32 at midday on Wednesday, reaching $ 99.89. The company’s 234,804 shares traded in the hands, compared to its average volume of 298,425. Armstrong World Industries, Inc. has a one-year low of $ 57.96 and a one-year high of 113 , $ 83. The company has a market cap of $ 4.76 billion, a PE ratio of 28.80 and a beta of 1.17. The company has a 50-day moving average price of $ 105.80 and a 200-day moving average price of $ 102.19. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt ratio of 1.35.
Armstrong World Industries (NYSE: AWI) last released its quarterly results on Monday, July 26. The construction company reported earnings per share (EPS) of $ 1.16 for the quarter, beating the consensus estimate of $ 1.05 by $ 0.11. Armstrong World Industries reported a return on equity of 39.56% and a net margin of 16.45%. The company posted revenue of $ 280.00 million for the quarter, compared to analysts’ expectations of $ 272.23 million. During the same period last year, the company earned $ 1.03 per share. The company’s revenue for the quarter increased 38.3% year-over-year. On average, analysts expect Armstrong World Industries, Inc. to post earnings per share of 4.28 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 19. Shareholders of record on Thursday August 5 received a dividend of $ 0.21 per share. This represents an annualized dividend of $ 0.84 and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday August 4. Armstrong World Industries’ dividend payout ratio (DPR) is currently 23.14%.
Several brokerage firms have recently published reports on AWI. Truist Securities raised its price target on Armstrong World Industries from $ 115.00 to $ 124.00 and gave the stock a “buy” rating in a report released on Monday, June 14. Zelman & Associates upgraded Armstrong World Industries from a “hold” note to a “buy” note in a research note on Thursday, June 24. Finally, Truist raised its price target on Armstrong World Industries from $ 115.00 to $ 124.00 and gave the company a “buy” rating in a research note on Monday, June 14. One investment analyst rated the stock with a sell rating, five issued a conservation rating, and four assigned a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries currently has an average “Hold” rating and a consensus price target of $ 91.56.
Several hedge funds have recently changed their holdings to AWI. Bank of New York Mellon Corp increased its position in Armstrong World Industries shares by 356.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,034,064 shares of the construction company valued at $ 93,157,000 after purchasing an additional 807,654 shares during the period. Alliancebernstein LP increased its position in shares of Armstrong World Industries by 2,272.0% in the second quarter. Alliancebernstein LP now owns 626,371 shares of the construction company valued at $ 67,185,000 after purchasing an additional 599,964 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of Armstrong World Industries in the 2nd quarter valued at $ 29,649,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Armstrong World Industries shares by 15.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,861,228 shares of the construction company valued at $ 199,636,000 after acquiring an additional 247,436 shares in the last quarter. Finally, FIL Ltd increased its holding in Armstrong World Industries shares by 27.2% in the 1st quarter. FIL Ltd now owns 929,647 shares of the construction company valued at $ 83,753,000 after acquiring an additional 198,816 shares during the last quarter.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc. is engaged in the design, manufacture and trade of commercial and residential ceiling, wall and suspension system solutions. It operates through the following segments: Mineral fiber, Architectural specialties and Unallocated companies. The Mineral Fiber segment produces mineral fiber and flexible fiber suspended ceiling systems for use in commercial and residential environments.
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