Timucuan Asset Management Inc. FL Cuts Stock Position in Armstrong World Industries, Inc. $AWI

Key Points

• Timucuan Asset Management Inc. FL reduced its stake in Armstrong World Industries by 7.0%, holding approximately 1.98% of the company, valued at $121 million.
• The company reported a quarterly EPS of $2.09, exceeding analyst estimates of $1.75 and showing a 16.3% year-over-year revenue growth.
• Armstrong World Industries has announced a quarterly dividend of $0.308 per share, with a yield of 0.6% and a payout ratio of 18.20%.

Timucuan Asset Management Inc. FL cut its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859,264 shares of the construction company's stock after selling 65,014 shares during the quarter. Armstrong World Industries comprises about 3.7% of Timucuan Asset Management Inc. FL's holdings, making the stock its 13th largest position. Timucuan Asset Management Inc. FL owned about 1.98% of Armstrong World Industries worth $121,053,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AWI. Alyeska Investment Group L.P. raised its stake in shares of Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after buying an additional 387,537 shares during the period. GAMMA Investing LLC raised its stake in shares of Armstrong World Industries by 15,282.7% in the first quarter. GAMMA Investing LLC now owns 282,887 shares of the construction company's stock valued at $398,530,000 after buying an additional 281,048 shares during the period. Invesco Ltd. raised its stake in shares of Armstrong World Industries by 34.0% in the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock valued at $95,886,000 after buying an additional 172,779 shares during the period. Nuveen LLC bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $23,449,000. Finally, Global Alpha Capital Management Ltd. bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $21,301,000. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Price Performance

Armstrong World Industries stock traded down $1.84 during midday trading on Friday, hitting $195.73. 527,827 shares of the company's stock were exchanged, compared to its average volume of 367,958. Armstrong World Industries, Inc. has a 52-week low of $118.14 and a 52-week high of $198.64. The stock has a 50-day moving average price of $178.44 and a two-hundred day moving average price of $157.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The company has a market cap of $8.47 billion, a P/E ratio of 28.95, a PEG ratio of 2.15 and a beta of 1.43.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The business 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 business earned $1.62 earnings per share. The firm's revenue was up 16.3% on a year-over-year basis. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The company also recently disclosed 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 was Thursday, August 7th. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI boosted their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Bank of America boosted their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective on the stock. Finally, UBS Group reiterated 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. Four 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 presently has a consensus rating of "Moderate Buy" and a consensus 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.