Alliancebernstein L.P. Trims Position in Armstrong World Industries, Inc. $AWI

Key Points

• Alliancebernstein L.P. decreased its stake in Armstrong World Industries by 13.9%, owning approximately $145.03 million worth of shares after selling 166,799 shares.
• Analysts have upgraded their price targets for Armstrong World Industries, with recommendations including a price objective of $200 from JPMorgan Chase & Co., reflecting a mostly positive outlook on the stock.
• The company reported $2.09 earnings per share (EPS) for the recent quarter, surpassing expectations and marking a 16.3% increase in year-over-year revenue.

Alliancebernstein L.P. decreased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,029,435 shares of the construction company's stock after selling 166,799 shares during the quarter. Alliancebernstein L.P. owned about 2.37% of Armstrong World Industries worth $145,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AWI. Elevation Point Wealth Partners LLC raised its stake in Armstrong World Industries by 5.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock valued at $221,000 after purchasing an additional 84 shares in the last quarter. Tidal Investments LLC raised its stake in Armstrong World Industries by 1.8% during the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock valued at $740,000 after purchasing an additional 93 shares in the last quarter. Bridges Investment Management Inc. raised its stake in Armstrong World Industries by 3.4% during the first quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock valued at $426,000 after purchasing an additional 100 shares in the last quarter. Algert Global LLC raised its stake in Armstrong World Industries by 1.7% during the first quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock valued at $948,000 after purchasing an additional 110 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Armstrong World Industries by 3.2% during the first quarter. Cetera Investment Advisers now owns 4,136 shares of the construction company's stock valued at $583,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

AWI has been the topic of a number of recent research reports. Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Wall Street Zen downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Bank of America upped their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Evercore ISI increased their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $177.13.

Armstrong World Industries Trading Up 1.0%

Shares of AWI traded up $1.87 during midday trading on Wednesday, hitting $196.07. The stock had a trading volume of 24,493 shares, compared to its average volume of 325,655. Armstrong World Industries, Inc. has a 1 year low of $118.14 and a 1 year high of $199.73. The firm has a market cap of $8.48 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.17 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The stock's 50 day moving average is $183.35 and its 200 day moving average is $159.84.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. The company had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.20%.

Armstrong World Industries Company Profile

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.