Financiere des Professionnels Fonds d investissement inc. Invests $289,000 in Armstrong World Industries, Inc. $AWI

Key Points

• Financiere des Professionnels Fonds d investissement inc. has made a new investment of approximately $289,000 in Armstrong World Industries, acquiring 1,780 shares during the second quarter.
• Armstrong World Industries reported a 16.3% increase in revenue year-over-year, with earnings per share of $2.09, exceeding analysts' expectations of $1.75.
• The company has declared a quarterly dividend of $0.308 per share, reflecting an annualized dividend yield of 0.6%.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,780 shares of the construction company's stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC increased its stake in shares of Armstrong World Industries by 5.7% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock valued at $221,000 after acquiring an additional 84 shares during the last quarter. Tidal Investments LLC grew its position in shares of Armstrong World Industries by 1.8% in the 4th quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock valued at $740,000 after purchasing an additional 93 shares during the period. Bridges Investment Management Inc. grew its position in shares of Armstrong World Industries by 3.4% in the 1st quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock valued at $426,000 after purchasing an additional 100 shares during the period. Parallel Advisors LLC grew its position in shares of Armstrong World Industries by 28.9% in the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock valued at $75,000 after purchasing an additional 103 shares during the period. Finally, Algert Global LLC grew its position in shares of Armstrong World Industries by 1.7% in the 1st quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock valued at $948,000 after purchasing an additional 110 shares during the period. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Down 0.5%

AWI stock traded down $0.89 during midday trading on Friday, hitting $196.53. The stock had a trading volume of 645,805 shares, compared to its average volume of 322,532. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 2.16 and a beta of 1.46. The business has a 50-day moving average of $187.95 and a two-hundred day moving average of $162.35. Armstrong World Industries, Inc. has a 52-week low of $122.37 and a 52-week high of $200.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its 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 firm had revenue of $424.60 million for the quarter, compared to analysts' expectations of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AWI shares. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Saturday. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the company a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Truist Financial increased their target price on Armstrong World Industries from $195.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Evercore ISI raised their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Armstrong World Industries presently has a consensus rating of "Moderate Buy" and a consensus price target 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.