Pinnacle Wealth Management LLC Invests $618,000 in Armstrong World Industries, Inc. $AWI

Key Points

• Pinnacle Wealth Management LLC invested approximately $618,000 in Armstrong World Industries by acquiring 4,388 shares during the first quarter.
• Armstrong World Industries reported earnings of $2.09 EPS for the last quarter, exceeding estimates and marking a 16.3% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.308, representing an annualized dividend yield of 0.6%.

Pinnacle Wealth Management LLC acquired a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,388 shares of the construction company's stock, valued at approximately $618,000.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Armstrong World Industries during the 4th quarter valued at $8,375,000. Sterling Capital Management LLC raised its stake in Armstrong World Industries by 44.1% in the 4th quarter. Sterling Capital Management LLC now owns 1,966 shares of the construction company's stock valued at $278,000 after acquiring an additional 602 shares during the period. Mariner LLC increased its position in shares of Armstrong World Industries by 7.4% during the fourth quarter. Mariner LLC now owns 3,300 shares of the construction company's stock valued at $466,000 after buying an additional 228 shares during the period. NewEdge Advisors LLC increased its position in shares of Armstrong World Industries by 9,641.9% during the fourth quarter. NewEdge Advisors LLC now owns 4,189 shares of the construction company's stock valued at $592,000 after buying an additional 4,146 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Armstrong World Industries during the fourth quarter valued at about $198,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Stock Up 1.9%

AWI traded up $3.7640 during trading on Friday, reaching $197.3040. The stock had a trading volume of 299,564 shares, compared to its average volume of 484,062. The stock's 50 day moving average is $173.88 and its two-hundred day moving average is $156.12. 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 company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.13 and a beta of 1.43. Armstrong World Industries, Inc. has a one year low of $118.14 and a one year high of $198.54.

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

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.308 dividend. The ex-dividend date 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 18.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AWI. Wall Street Zen lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Friday. Bank of America boosted their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Evercore ISI upped their target price on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. Truist Financial set a $195.00 target price on Armstrong World Industries and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, UBS Group restated a "neutral" rating and set a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.