NBC Securities Inc. Increases Stock Position in Armstrong World Industries, Inc. $AWI

Key Points

• NBC Securities Inc. increased its stake in Armstrong World Industries, Inc. by 35.0% during Q2, bringing its holdings to 5,095 shares worth approximately $827,000.
• Equities analysts have raised price targets for Armstrong World Industries, with Truist Financial setting a new target of $230.00 and Evercore ISI at $182.00, indicating a generally positive outlook on the stock.
• Armstrong World Industries reported a 16.3% increase in quarterly revenue year-over-year, with an EPS of $2.09 surpassing analyst estimates.

NBC Securities Inc. raised its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 35.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,095 shares of the construction company's stock after buying an additional 1,322 shares during the period. NBC Securities Inc.'s holdings in Armstrong World Industries were worth $827,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Armstrong World Industries by 28.9% during the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock worth $75,000 after purchasing an additional 103 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Armstrong World Industries by 144.2% during the first quarter. Jane Street Group LLC now owns 70,136 shares of the construction company's stock worth $9,881,000 after purchasing an additional 41,417 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Armstrong World Industries by 131.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company's stock worth $62,060,000 after purchasing an additional 250,133 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Armstrong World Industries during the first quarter worth about $406,000. Finally, Sciencast Management LP purchased a new position in shares of Armstrong World Industries during the first quarter worth about $799,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded down $0.89 during trading on Friday, hitting $196.53. 645,805 shares of the company were exchanged, compared to its average volume of 322,532. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. Armstrong World Industries, Inc. has a fifty-two week low of $122.37 and a fifty-two week high of $200.84. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.17 and a beta of 1.46. The firm has a 50 day moving average price of $187.95 and a 200 day moving average price of $162.29.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share (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 firm had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same period in the previous year, the firm posted $1.62 EPS. The company's quarterly revenue was up 16.3% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AWI shares. UBS Group reaffirmed a "neutral" rating and set a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Evercore ISI raised their price target on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Wall Street Zen lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Loop Capital set a $190.00 price target on Armstrong World Industries and gave the stock a "hold" rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of "Moderate Buy" and an average target price of $181.50.

Armstrong World Industries Company Profile

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.