Armstrong World Industries, Inc. $AWI Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc reduced its stake in Armstrong World Industries by 13.4% in the fourth quarter, selling 17,079 shares and leaving it with 110,509 shares valued at about $21.1 million.
• Armstrong World Industries reported Q1 earnings of $1.69 per share, below the $1.82 consensus estimate, while revenue came in roughly in line at $409.9 million and rose 7.1% year over year.
• Analysts remain generally positive on AWI, with a consensus “Moderate Buy” rating and an average target price of $211.86, though some firms recently lowered their price targets.

Legal & General Group Plc trimmed its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,509 shares of the construction company's stock after selling 17,079 shares during the quarter. Legal & General Group Plc owned approximately 0.26% of Armstrong World Industries worth $21,118,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AWI. AQR Capital Management LLC raised its stake in shares of Armstrong World Industries by 64.1% in the 3rd quarter. AQR Capital Management LLC now owns 891,336 shares of the construction company's stock valued at $173,775,000 after purchasing an additional 348,327 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Armstrong World Industries by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 860,799 shares of the construction company's stock valued at $168,716,000 after buying an additional 2,799 shares during the last quarter. Invesco Ltd. increased its holdings in Armstrong World Industries by 11.2% in the third quarter. Invesco Ltd. now owns 758,680 shares of the construction company's stock valued at $148,709,000 after buying an additional 76,235 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Armstrong World Industries by 1.9% during the third quarter. Alyeska Investment Group L.P. now owns 502,736 shares of the construction company's stock valued at $98,541,000 after buying an additional 9,139 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Armstrong World Industries by 33,007.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 473,104 shares of the construction company's stock worth $90,410,000 after buying an additional 471,675 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AWI. Bank of America decreased their target price on Armstrong World Industries from $216.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Weiss Ratings restated a "buy (b)" rating on shares of Armstrong World Industries in a research note on Monday, April 20th. Evercore set a $200.00 target price on shares of Armstrong World Industries in a research note on Tuesday, April 28th. UBS Group dropped their target price on shares of Armstrong World Industries from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, April 29th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Armstrong World Industries in a research report on Wednesday, February 25th. One equities research 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.86.

Armstrong World Industries Trading Down 0.0%

NYSE:AWI opened at $157.85 on Monday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.71 and a beta of 1.17. The business has a 50 day simple moving average of $166.48 and a 200 day simple moving average of $179.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.54 and a quick ratio of 1.04. Armstrong World Industries, Inc. has a 12-month low of $149.06 and a 12-month high of $206.08.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, April 28th. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.13). The company had revenue of $409.90 million during 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 business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. Armstrong World Industries has set its FY 2026 guidance at 8.150-8.450 EPS. Equities research analysts predict that Armstrong World Industries, Inc. will post 8.31 EPS for the current year.

Armstrong World Industries Dividend Announcement

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