Charles Schwab Investment Management Inc. Reduces Stock Position in Armstrong World Industries, Inc. $AWI

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Armstrong World Industries, Inc. by 4.2%, selling 19,774 shares in the first quarter, bringing their total holdings to approximately 448,065 shares valued at $63.1 million.
• Armstrong World Industries reported a quarterly EPS of $2.09, exceeding analysts' expectations of $1.75, with a 16.3% increase in year-over-year revenue.
• The company declared a quarterly dividend of $0.308 per share, with an annual yield of 0.6%, and has a dividend payout ratio of 18.20%.

Charles Schwab Investment Management Inc. cut its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 448,065 shares of the construction company's stock after selling 19,774 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.03% of Armstrong World Industries worth $63,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after acquiring an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 valued at $47,000 after purchasing an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Armstrong World Industries during the first quarter valued at $54,000. Archer Investment Corp bought a new stake in Armstrong World Industries in the 1st quarter worth about $113,000. Finally, First Horizon Advisors Inc. lifted its stake in Armstrong World Industries by 29.3% during the 1st quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company's stock valued at $126,000 after acquiring an additional 203 shares during the period. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

Shares of AWI stock traded down $0.43 during mid-day trading on Monday, hitting $193.71. The company had a trading volume of 151,036 shares, compared to its average volume of 323,644. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The stock's 50 day moving average price is $169.77 and its 200-day moving average price is $154.64. Armstrong World Industries, Inc. has a 52-week low of $118.14 and a 52-week high of $197.04. The company has a market capitalization of $8.38 billion, a P/E ratio of 28.65, a P/E/G ratio of 2.13 and a beta of 1.43.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly 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. The business had revenue of $424.60 million for the quarter, compared to analysts' expectations of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 EPS. Equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's payout ratio is presently 18.20%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AWI. Evercore ISI increased their price objective on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the stock a "buy" rating 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. Bank of America boosted their price target 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. Finally, UBS Group reiterated a "neutral" rating and issued a $178.00 price objective (up previously 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 hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Armstrong World Industries currently 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.