Armstrong World Industries, Inc. $AWI Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Armstrong World Industries by 92.3%, reaching a total of 6,030 shares valued at approximately $850,000.
• Armstrong World Industries reported $2.09 EPS, exceeding estimates of $1.75, with revenue of $424.60 million which was also above the expected $404.05 million.
• The company declared a quarterly dividend of $0.308, reflecting an annualized amount of $1.23 and a dividend yield of 0.6%.

Russell Investments Group Ltd. grew its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 92.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,030 shares of the construction company's stock after buying an additional 2,894 shares during the quarter. Russell Investments Group Ltd.'s holdings in Armstrong World Industries were worth $850,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC increased its position in Armstrong World Industries by 5.7% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock valued at $221,000 after buying an additional 84 shares in the last quarter. Tidal Investments LLC lifted its position 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. lifted its position in shares of Armstrong World Industries by 3.4% in the first quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock valued at $426,000 after acquiring an additional 100 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Armstrong World Industries by 3.2% in the first quarter. Cetera Investment Advisers now owns 4,136 shares of the construction company's stock valued at $583,000 after acquiring an additional 127 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Armstrong World Industries by 6.8% in the first quarter. Pacer Advisors Inc. now owns 2,156 shares of the construction company's stock worth $304,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

AWI traded down $0.94 on Wednesday, reaching $193.83. The company had a trading volume of 79,114 shares, compared to its average volume of 323,767. Armstrong World Industries, Inc. has a 1 year low of $118.14 and a 1 year high of $198.64. The stock has a market capitalization of $8.38 billion, a PE ratio of 28.68, a P/E/G ratio of 2.15 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $179.95 and a 200-day moving average price of $158.29.

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

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Analyst Ratings Changes

AWI has been the topic of several analyst reports. UBS Group reissued a "neutral" rating and set a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price on the stock. Truist Financial set a $195.00 target price on Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. 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. Finally, Evercore ISI raised their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $177.13.

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.