Armstrong World Industries, Inc. $AWI Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC boosted its stake in Armstrong World Industries by 67% in the first quarter, bringing its position to 19,579 shares valued at about $3.22 million.
• Armstrong World Industries recently reported Q1 earnings of $1.69 per share, below analyst expectations of $1.82, even though revenue of $409.9 million slightly topped estimates and rose 7.1% year over year.
• The company’s board approved an $800 million share repurchase program and also declared a quarterly dividend of $0.339 per share, implying an annual yield of about 0.8%.

Hsbc Holdings PLC grew its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 67.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,579 shares of the construction company's stock after acquiring an additional 7,854 shares during the quarter. Hsbc Holdings PLC's holdings in Armstrong World Industries were worth $3,219,000 at the end of the most recent quarter.

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

Armstrong World Industries Stock Performance

Shares of NYSE AWI opened at $160.74 on Friday. Armstrong World Industries, Inc. has a 1 year low of $150.28 and a 1 year high of $206.08. The firm has a market cap of $6.86 billion, a P/E ratio of 22.80, a PEG ratio of 1.72 and a beta of 1.17. The stock has a fifty day moving average price of $156.63 and a two-hundred day moving average price of $171.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.54.

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

Armstrong World Industries announced that its board has approved a share repurchase program on Tuesday, July 21st that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a $0.339 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 5th. Armstrong World Industries's dividend payout ratio is presently 19.29%.

Analysts Set New Price Targets

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

Armstrong World Industries Profile

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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