Hotchkis & Wiley Capital Management LLC Decreases Stock Holdings in Armstrong World Industries, Inc. $AWI

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its holdings in Armstrong World Industries by 38.2%, selling 26,970 shares and now owning approximately 0.10% of the company valued at $6.14 million.
• A variety of institutional investors have also modified their positions in Armstrong World Industries, with 98.93% of the company's stock now owned by such entities.
• Armstrong World Industries beat analysts' earnings estimates with reported earnings of $2.09 per share for the last quarter, exceeding expectations by $0.34.

Hotchkis & Wiley Capital Management LLC trimmed its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 38.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,580 shares of the construction company's stock after selling 26,970 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.10% of Armstrong World Industries worth $6,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC grew its position in Armstrong World Industries by 5.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock valued at $221,000 after buying an additional 84 shares during the period. Tidal Investments LLC grew its position in Armstrong World Industries by 1.8% during the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock valued at $740,000 after buying an additional 93 shares during the period. Bridges Investment Management Inc. grew its position in Armstrong World Industries by 3.4% during the first quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock valued at $426,000 after buying an additional 100 shares during the period. Algert Global LLC grew its position in Armstrong World Industries by 1.7% during the first quarter. Algert Global LLC now owns 6,730 shares of the construction company's stock valued at $948,000 after buying an additional 110 shares during the period. Finally, Cetera Investment Advisers grew its position in Armstrong World Industries by 3.2% during the first quarter. Cetera Investment Advisers now owns 4,136 shares of the construction company's stock valued at $583,000 after buying an additional 127 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AWI shares. Truist Financial set a $195.00 target price on shares of Armstrong World Industries and gave the company a "buy" rating in a research report on Wednesday, July 30th. Evercore ISI boosted their target price 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. UBS Group restated a "neutral" rating and set a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Bank of America upped their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.13.

Armstrong World Industries Price Performance

Shares of NYSE:AWI traded down $0.42 during midday trading on Thursday, reaching $197.25. 385,810 shares of the company were exchanged, compared to its average volume of 379,816. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $177.56 and its two-hundred day moving average is $157.36. Armstrong World Industries, Inc. has a one year low of $118.14 and a one year high of $198.64. The stock has a market cap of $8.53 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.43.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. During the same quarter in the prior year, the business earned $1.62 earnings per share. Armstrong World Industries's revenue for the quarter was up 16.3% on a year-over-year basis. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.308 per share. The ex-dividend date of this dividend was 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 presently 18.20%.

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.