Maryland State Retirement & Pension System lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,735 shares of the construction company's stock after selling 2,392 shares during the period. Maryland State Retirement & Pension System's holdings in Armstrong World Industries were worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of AWI. Burgundy Asset Management Ltd. raised its holdings in shares of Armstrong World Industries by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after buying an additional 19,787 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock valued at $94,126,000 after buying an additional 389,000 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Armstrong World Industries by 267.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after buying an additional 387,537 shares during the period. Invesco Ltd. raised its holdings in shares of Armstrong World Industries by 25.4% in the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock valued at $71,773,000 after buying an additional 102,895 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Armstrong World Industries by 1.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 335,362 shares of the construction company's stock valued at $47,397,000 after buying an additional 3,854 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.
Armstrong World Industries Stock Up 0.7%
Shares of AWI traded up $1.27 during mid-day trading on Monday, reaching $189.55. The company's stock had a trading volume of 513,043 shares, compared to its average volume of 431,771. Armstrong World Industries, Inc. has a 12-month low of $117.92 and a 12-month high of $192.00. The stock has a market cap of $8.20 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. 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 company's 50 day moving average is $165.90 and its 200 day moving average is $153.11.
Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. The business had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.
Armstrong World Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.20%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on AWI shares. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Bank of America upped their price target on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Truist Financial set a $195.00 price target on Armstrong World Industries and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, UBS Group restated a "neutral" rating and set a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.
Get Our Latest Stock Analysis on AWI
About Armstrong World Industries
(
Free Report)
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.
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