Allspring Global Investments Holdings LLC Cuts Stake in Armstrong World Industries, Inc. $AWI

Key Points

• Allspring Global Investments cut its stake in Armstrong World Industries by 53.5% in the first quarter, selling 228,718 shares and ending with 198,729 shares valued at about $32.9 million.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $211.86. Recent moves included UBS lowering its target to $195 and assigning a neutral rating.
• Armstrong World Industries reported Q1 EPS of $1.69, missing estimates, while revenue came in roughly in line at $409.9 million and rose 7.1% year over year. The company also paid a quarterly dividend of $0.339 per share, implying a 0.9% yield.

Allspring Global Investments Holdings LLC reduced its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 53.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,729 shares of the construction company's stock after selling 228,718 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.47% of Armstrong World Industries worth $32,935,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AWI. Larson Financial Group LLC grew its holdings in shares of Armstrong World Industries by 77.0% in the fourth quarter. Larson Financial Group LLC now owns 131 shares of the construction company's stock worth $25,000 after acquiring an additional 57 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Armstrong World Industries during the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. increased its position in shares of Armstrong World Industries by 124.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 177 shares of the construction company's stock valued at $34,000 after purchasing an additional 98 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in Armstrong World Industries by 426.5% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the construction company's stock valued at $35,000 after buying an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Armstrong World Industries during the fourth quarter valued at approximately $39,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AWI has been the topic of several analyst reports. Weiss Ratings cut shares of Armstrong World Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 4th. UBS Group lowered their target price on Armstrong World Industries from $200.00 to $195.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 29th. Bank of America cut their price target on Armstrong World Industries from $216.00 to $210.00 and set a "buy" rating for the company in a report on Monday, April 20th. Finally, Evercore set a $200.00 price target on Armstrong World Industries in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.86.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $156.01 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.54. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.69 and a beta of 1.17. The firm has a fifty day moving average price of $156.87 and a 200 day moving average price of $172.14. Armstrong World Industries, Inc. has a fifty-two week low of $150.28 and a fifty-two week high of $206.08.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.69 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.13). The company had revenue of $409.90 million for the quarter, compared to the consensus estimate of $409.46 million. Armstrong World Industries had a net margin of 18.59% and a return on equity of 36.71%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. Armstrong World Industries has set its FY 2026 guidance at 8.150-8.450 EPS. As a group, sell-side analysts expect that Armstrong World Industries, Inc. will post 8.31 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a dividend of $0.339 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Armstrong World Industries's dividend payout ratio is 19.29%.

About Armstrong World Industries

Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.

Armstrong's product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.

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