Armstrong World Industries, Inc. $AWI Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its Armstrong World Industries stake by 82% in the second quarter, selling 51,843 shares and retaining 11,393 shares worth approximately $1.83 million. Institutional investors and hedge funds collectively own 98.93% of AWI.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $213.25. The company also exceeded quarterly earnings and revenue expectations, reporting $2.36 EPS and $472 million in revenue.
• Armstrong declared a quarterly dividend of $0.339 per share, equivalent to a 0.8% annualized yield, and authorized an $800 million share-repurchase program covering up to 12.3% of outstanding shares.

Corient Private Wealth LP cut its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 82.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,393 shares of the construction company's stock after selling 51,843 shares during the quarter. Corient Private Wealth LP's holdings in Armstrong World Industries were worth $1,828,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Armstrong World Industries in the second quarter worth about $827,239,000. Capital International Investors increased its stake in shares of Armstrong World Industries by 1.0% in the fourth quarter. Capital International Investors now owns 2,321,993 shares of the construction company's stock worth $443,736,000 after acquiring an additional 23,133 shares during the period. Geode Capital Management LLC raised its holdings in shares of Armstrong World Industries by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 1,015,154 shares of the construction company's stock worth $194,027,000 after purchasing an additional 61,647 shares during the last quarter. Norges Bank purchased a new position in shares of Armstrong World Industries during the fourth quarter worth $107,716,000. Finally, Bank of America Corp DE raised its holdings in shares of Armstrong World Industries by 5.2% during the first quarter. Bank of America Corp DE now owns 457,619 shares of the construction company's stock worth $75,416,000 after purchasing an additional 22,477 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AWI. DA Davidson reissued a "buy" rating and issued a $215.00 price objective on shares of Armstrong World Industries in a report on Tuesday, September 1st. Truist Financial set a $230.00 price target on Armstrong World Industries in a research report on Tuesday, September 8th. Jefferies Financial Group reissued a "hold" rating and issued a $190.00 price target on shares of Armstrong World Industries in a report on Wednesday, July 29th. UBS Group restated a "neutral" rating and issued a $203.00 price objective on shares of Armstrong World Industries in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Armstrong World Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $213.25.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock opened at $162.25 on Friday. The firm has a market cap of $6.86 billion, a PE ratio of 22.23, a P/E/G ratio of 1.59 and a beta of 1.17. Armstrong World Industries, Inc. has a twelve month low of $150.28 and a twelve month high of $206.08. The company has a quick ratio of 1.06, a current ratio of 1.52 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $171.33 and a 200 day moving average price of $165.84.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The construction company reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. Armstrong World Industries had a return on equity of 37.35% and a net margin of 18.60%.The company had revenue of $472.00 million for the quarter, compared to the consensus estimate of $461.67 million. During the same quarter in the prior year, the business posted $2.09 earnings per share. Armstrong World Industries's revenue for the quarter was up 11.2% on a year-over-year basis. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. Sell-side analysts predict that Armstrong World Industries, Inc. will post 8.39 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were given a dividend of $0.3390 per share. The ex-dividend date was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Armstrong World Industries's dividend payout ratio is currently 18.63%.

Armstrong World Industries announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 21st that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Armstrong World Industries Profile

Armstrong World Industries, Inc is a manufacturer of ceiling, wall and suspension-system solutions for commercial and residential spaces. The company develops products designed to improve acoustics, aesthetics, lighting integration, indoor environmental quality and installation efficiency.

Its product portfolio includes mineral fiber, fiberglass, metal and wood ceilings; ceiling suspension systems; acoustical wall panels; partitions; and specialty architectural systems. Armstrong's solutions are used in offices, schools, health care facilities, retail spaces, transportation hubs, hospitality venues and other building environments.

Armstrong World Industries traces its roots to 1860 and is headquartered in Lancaster, Pennsylvania.

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