NFJ Investment Group LLC Has $2.82 Million Stock Holdings in Armstrong World Industries, Inc. $AWI

Key Points

• NFJ Investment Group LLC sold 2,172 shares of Armstrong World Industries, reducing its position by 9.8%, leaving it with 19,987 shares worth approximately $2.82 million.
• The company reported $2.09 earnings per share for the last quarter, exceeding analysts' estimates of $1.75, with a 16.3% year-over-year revenue increase to $424.6 million.
• Armstrong World Industries declared a quarterly dividend of $0.308 per share, representing an annualized yield of 0.6% and a dividend payout ratio of 18.20%.

NFJ Investment Group LLC decreased its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 19,987 shares of the construction company's stock after selling 2,172 shares during the period. NFJ Investment Group LLC's holdings in Armstrong World Industries were worth $2,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of 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 purchasing an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Armstrong World Industries by 652.3% in the 1st 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 during the last quarter. Versant Capital Management Inc bought a new position in shares of Armstrong World Industries in the 1st quarter valued at $54,000. Covestor Ltd increased its stake in shares of Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock valued at $83,000 after purchasing an additional 170 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Armstrong World Industries in the 1st quarter valued at $91,000. Institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AWI. Loop Capital set a $190.00 price target on Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective on the stock. UBS Group restated a "neutral" rating and set a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Bank of America boosted their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.13.

Armstrong World Industries Trading Up 1.1%

AWI traded up $2.13 during midday trading on Thursday, hitting $197.83. 123,326 shares of the company were exchanged, compared to its average volume of 325,654. The firm has a market capitalization of $8.56 billion, a P/E ratio of 29.28, a P/E/G ratio of 2.14 and a beta of 1.46. Armstrong World Industries, Inc. has a 1-year low of $121.53 and a 1-year high of $199.73. The firm's 50 day moving average price is $183.94 and its 200-day moving average price is $160.09. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its 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 firm 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 quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

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

Armstrong World Industries 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.