Invesco Ltd. Acquires 172,779 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• Invesco Ltd. increased its stake in Armstrong World Industries by 34.0%, owning approximately 1.57% of the company valued at $95.9 million after acquiring additional shares in the first quarter.
• Armstrong World Industries reported a quarterly EPS of $2.09, surpassing expectations and achieving a 16.3% increase in revenue compared to the same period last year.
• The company is set to pay a $0.308 quarterly dividend on August 21st, reflecting an annual yield of 0.6% and a payout ratio of 18.20%.

Invesco Ltd. increased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 34.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 680,622 shares of the construction company's stock after purchasing an additional 172,779 shares during the period. Invesco Ltd. owned approximately 1.57% of Armstrong World Industries worth $95,886,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Global Alpha Capital Management Ltd. acquired a new position in shares of Armstrong World Industries during the 1st quarter worth about $21,301,000. Covestor Ltd lifted its position in shares of Armstrong World Industries by 40.5% during the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after purchasing an additional 170 shares during the last quarter. CenterBook Partners LP lifted its position in shares of Armstrong World Industries by 63.2% during the 1st quarter. CenterBook Partners LP now owns 7,110 shares of the construction company's stock worth $1,002,000 after purchasing an additional 2,753 shares during the last quarter. New Age Alpha Advisors LLC lifted its position in shares of Armstrong World Industries by 28.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 3,422 shares of the construction company's stock worth $482,000 after purchasing an additional 756 shares during the last quarter. Finally, Argent Trust Co lifted its position in shares of Armstrong World Industries by 34.7% during the 1st quarter. Argent Trust Co now owns 4,488 shares of the construction company's stock worth $632,000 after purchasing an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective 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 report on Wednesday, July 30th. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Loop Capital set a $190.00 price target on Armstrong World Industries and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, Evercore ISI upped their price target on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Price Performance

Shares of AWI stock traded down $0.4730 during trading hours on Thursday, hitting $193.4270. The company had a trading volume of 283,603 shares, compared to its average volume of 489,222. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.13 and a beta of 1.43. Armstrong World Industries, Inc. has a 12 month low of $118.14 and a 12 month high of $197.04. The firm's fifty day moving average is $172.95 and its 200 day moving average is $155.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. The business had revenue of $424.60 million for the quarter, compared to analyst estimates of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.Armstrong World Industries's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, sell-side analysts predict 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 will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a dividend of $0.308 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's dividend payout ratio is 18.20%.

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.