Teacher Retirement System of Texas Cuts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Teacher Retirement System of Texas cut its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,411 shares of the construction company's stock after selling 5,220 shares during the period. Teacher Retirement System of Texas' holdings in Armstrong World Industries were worth $2,030,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AWI. Golden State Wealth Management LLC grew its holdings in Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after acquiring an additional 140 shares during the period. Twin Tree Management LP acquired a new stake in Armstrong World Industries during the fourth quarter worth about $43,000. MassMutual Private Wealth & Trust FSB grew its holdings in Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after acquiring an additional 287 shares during the period. Versant Capital Management Inc acquired a new stake in Armstrong World Industries during the first quarter worth about $54,000. Finally, Farther Finance Advisors LLC grew its holdings in Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after acquiring an additional 202 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Trading Down 0.9%

Armstrong World Industries stock traded down $1.56 during trading on Friday, reaching $168.05. 179,989 shares of the company were exchanged, compared to its average volume of 276,617. Armstrong World Industries, Inc. has a 52-week low of $117.92 and a 52-week high of $170.86. The company has a market capitalization of $7.30 billion, a P/E ratio of 26.89, a PEG ratio of 2.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The stock's 50 day simple moving average is $157.44 and its two-hundred day simple moving average is $148.63.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The company had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. During the same quarter in the previous year, the business earned $1.38 earnings per share. The company's revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.308 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.73%. Armstrong World Industries's dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Loop Capital lowered their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Bank of America increased their price target on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $162.88.

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.