Livforsakringsbolaget Skandia Omsesidigt Decreases Stock Holdings in Armstrong World Industries, Inc. $AWI

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Armstrong World Industries by 42.5% in Q2, now holding 13,000 shares worth approximately $2.11 million.
• Armstrong World Industries reported earnings of $2.09 EPS for Q2, exceeding analyst expectations of $1.75 and showing a revenue increase of 16.3% compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.308 per share, resulting in an annualized yield of 0.6% and a payout ratio of 18.20%.

Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the construction company's stock after selling 9,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Armstrong World Industries were worth $2,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC lifted its position in Armstrong World Industries by 5.7% during the first 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 during the period. 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 buying an additional 93 shares during the period. Bridges Investment Management Inc. lifted its position in Armstrong World Industries by 3.4% during the first quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock valued at $426,000 after buying an additional 100 shares during the period. Parallel Advisors LLC lifted its position in Armstrong World Industries by 28.9% during the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock valued at $75,000 after buying an additional 103 shares during the period. Finally, Algert Global LLC lifted its position in Armstrong World Industries by 1.7% during the first quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock valued at $948,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded down $0.89 during mid-day trading on Friday, reaching $196.53. 645,805 shares of the company traded hands, compared to its average volume of 322,532. The company's 50 day moving average price is $187.95 and its 200-day moving average price is $162.29. The firm has a market cap of $8.50 billion, a PE ratio of 29.07, a PEG ratio of 2.17 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 52 week low of $122.37 and a 52 week high of $200.84.

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

Armstrong World Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AWI. Evercore ISI lifted their price target on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target for the company. UBS Group reaffirmed a "neutral" rating and issued a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Loop Capital set a $190.00 price target on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Truist Financial lifted their price target on Armstrong World Industries from $195.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Armstrong World Industries has a consensus rating of "Moderate Buy" and a consensus price target of $181.50.

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.