Raymond James Financial Inc. Has $7.81 Million Stake in Armstrong World Industries, Inc. $AWI

Key Points

• Raymond James Financial Inc. reduced its stake in Armstrong World Industries by 6.5% to approximately $7.81 million, owning 55,428 shares as of the latest reporting period.
• Armstrong World Industries reported robust quarterly earnings, with an EPS of $2.09 exceeding estimates, alongside a revenue of $424.60 million, up 16.3% year-over-year.
• Analysts have varied ratings on Armstrong World Industries, with four giving a “Buy” rating and four a “Hold” rating, while the average target price is set at $177.13.

Raymond James Financial Inc. trimmed its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,428 shares of the construction company's stock after selling 3,830 shares during the quarter. Raymond James Financial Inc. owned 0.13% of Armstrong World Industries worth $7,809,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of Armstrong World Industries by 100.0% in the first 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 in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after acquiring an additional 287 shares in the last quarter. Versant Capital Management Inc acquired a new position in Armstrong World Industries during the first quarter worth $54,000. Covestor Ltd raised its stake in Armstrong World Industries by 40.5% during the first quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after acquiring an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Armstrong World Industries during the first quarter worth $91,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AWI. Wall Street Zen lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. UBS Group reiterated a "neutral" rating and set a $178.00 price objective (up from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Evercore ISI increased their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Armstrong World Industries has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Price Performance

Shares of AWI stock opened at $195.73 on Tuesday. The stock's fifty day moving average is $179.23 and its 200-day moving average is $158.03. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a market capitalization of $8.47 billion, a PE ratio of 28.95, a PEG ratio of 2.15 and a beta of 1.46. Armstrong World Industries, Inc. has a 52 week low of $118.14 and a 52 week high of $198.64.

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 company had revenue of $424.60 million for the quarter, compared to analysts' expectations 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 earned $1.62 earnings per share. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. Equities research analysts expect 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 was paid on Thursday, August 21st. Investors 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 annualized dividend and a yield of 0.6%. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.20%.

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.

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