Northern Trust Corp Has $40.34 Million Stake in Armstrong World Industries, Inc. $AWI

Key Points

• Northern Trust Corp reduced its stake in Armstrong World Industries by 1.0% in Q1, owning 286,304 shares worth approximately $40.34 million.
• Armstrong World Industries reported a better-than-expected earnings per share of $2.09 for the last quarter, surpassing analyst estimates of $1.75.
• The company recently announced a quarterly dividend of $0.308, representing an annualized yield of 0.6% and a payout ratio of 18.20%.

Northern Trust Corp decreased its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 286,304 shares of the construction company's stock after selling 2,985 shares during the period. Northern Trust Corp owned approximately 0.66% of Armstrong World Industries worth $40,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AWI. Golden State Wealth Management LLC grew 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 worth $39,000 after purchasing an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in 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 worth $47,000 after purchasing an additional 287 shares during the last quarter. Versant Capital Management Inc bought a new position in Armstrong World Industries in the 1st quarter worth about $54,000. Covestor Ltd grew its position in Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after purchasing an additional 170 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Armstrong World Industries in the 1st quarter worth about $91,000. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Price Performance

AWI stock traded down $1.89 on Tuesday, hitting $193.89. 91,994 shares of the company's stock traded hands, compared to its average volume of 323,339. Armstrong World Industries, Inc. has a 1-year low of $118.14 and a 1-year high of $198.64. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.15 and a beta of 1.46. The stock has a fifty day moving average of $179.23 and a 200-day moving average of $158.03. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

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, beating the consensus estimate 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 business had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. During the same period in the prior year, the business earned $1.62 earnings per share. The business's quarterly revenue 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. On average, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.20%.

Wall Street Analyst Weigh In

AWI has been the subject of several recent analyst reports. Bank of America upped their target price 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. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective for the company. UBS Group reiterated a "neutral" rating and issued a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Truist Financial set a $195.00 price objective on shares of Armstrong World Industries and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.13.

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.