Bank of Nova Scotia Makes New Investment in Armstrong World Industries, Inc. $AWI

Bank of Nova Scotia acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 120,134 shares of the construction company's stock, valued at approximately $19,272,000. Bank of Nova Scotia owned about 0.28% of Armstrong World Industries at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Armstrong World Industries during the 2nd quarter worth about $827,239,000. Capital International Investors grew its stake in Armstrong World Industries by 1.0% in the 4th quarter. Capital International Investors now owns 2,321,993 shares of the construction company's stock valued at $443,736,000 after buying an additional 23,133 shares during the last quarter. Bank of Montreal Can raised its holdings in Armstrong World Industries by 18,679.7% in the 4th quarter. Bank of Montreal Can now owns 1,279,086 shares of the construction company's stock valued at $244,433,000 after acquiring an additional 1,272,275 shares during the period. Geode Capital Management LLC raised its holdings in Armstrong World Industries by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 1,015,154 shares of the construction company's stock valued at $194,027,000 after acquiring an additional 61,647 shares during the period. Finally, AQR Capital Management LLC lifted its position in Armstrong World Industries by 7.8% during the fourth quarter. AQR Capital Management LLC now owns 961,185 shares of the construction company's stock worth $183,682,000 after acquiring an additional 69,849 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Performance

NYSE AWI opened at $179.01 on Monday. The firm has a 50-day moving average price of $166.21 and a two-hundred day moving average price of $169.15. Armstrong World Industries, Inc. has a 12-month low of $150.28 and a 12-month high of $206.08. The company has a market capitalization of $7.56 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.74 and a beta of 1.16. The company has a quick ratio of 1.06, a current ratio of 1.52 and a debt-to-equity ratio of 0.58.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its earnings results on Tuesday, July 28th. The construction company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.25 by $0.11. The company had revenue of $472.00 million for the quarter, compared to analysts' expectations of $461.67 million. Armstrong World Industries had a net margin of 18.60% and a return on equity of 37.35%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. Analysts anticipate that Armstrong World Industries, Inc. will post 8.39 earnings per share for the current year.

Armstrong World Industries announced that its board has initiated a stock repurchase program on Tuesday, July 21st that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were issued a $0.339 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.36 annualized dividend and a yield of 0.8%. Armstrong World Industries's payout ratio is currently 18.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AWI shares. Weiss Ratings cut Armstrong World Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 4th. UBS Group reissued a "neutral" rating and set a $203.00 price target on shares of Armstrong World Industries in a report on Wednesday, July 29th. Jefferies Financial Group restated a "hold" rating and issued a $190.00 price target on shares of Armstrong World Industries in a research note on Wednesday, July 29th. Finally, Evercore set a $200.00 price objective on Armstrong World Industries in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.00.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.

Armstrong's product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.

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