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Public Sector Pension Investment Board Buys 69,935 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Armstrong World Industries logo with Construction background

Key Points

  • The Public Sector Pension Investment Board increased its stake in Armstrong World Industries by 64.4%, acquiring an additional 69,935 shares during the first quarter.
  • Armstrong World Industries reported $2.09 earnings per share for the last quarter, exceeding estimates and marking a 16.3% increase in quarterly revenue compared to the previous year.
  • Recent analyst ratings suggest a consensus of "Moderate Buy" for Armstrong World Industries, with target prices ranging from $170.00 to $195.00.
  • Need better tools to track Armstrong World Industries? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Public Sector Pension Investment Board lifted its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 64.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,540 shares of the construction company's stock after buying an additional 69,935 shares during the period. Public Sector Pension Investment Board owned approximately 0.41% of Armstrong World Industries worth $25,153,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in shares of Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after buying an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Armstrong World Industries by 652.3% in the first 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 purchased a new position in Armstrong World Industries in the first quarter worth about $54,000. Covestor Ltd boosted its position in Armstrong World Industries by 40.5% in the first 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, Archer Investment Corp purchased a new position in Armstrong World Industries in the first quarter worth about $113,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AWI has been the topic of several research reports. UBS Group reissued a "neutral" rating and issued a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price on the stock. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Evercore ISI raised their target price on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Finally, Truist Financial set a $195.00 target price on shares of Armstrong World Industries and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Get Our Latest Analysis on Armstrong World Industries

Armstrong World Industries Price Performance

NYSE AWI traded down $0.70 during trading hours on Friday, reaching $193.46. The company's stock had a trading volume of 402,540 shares, compared to its average volume of 476,940. The firm's 50-day moving average price is $169.77 and its 200-day moving average price is $154.58. 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, Inc. has a 1 year low of $118.14 and a 1 year high of $197.04. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.13 and a beta of 1.43.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released 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. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The business had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. During the same quarter in the previous year, the company posted $1.62 EPS. The company's revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts predict 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 will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's payout ratio is presently 18.20%.

Armstrong World Industries Company Profile

(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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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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