Rice Hall James & Associates LLC purchased a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 177,147 shares of the construction company's stock, valued at approximately $28,418,000. Armstrong World Industries comprises about 1.4% of Rice Hall James & Associates LLC's holdings, making the stock its 16th largest holding. Rice Hall James & Associates LLC owned 0.42% of Armstrong World Industries at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in AWI. Assenagon Asset Management S.A. raised its position in shares of Armstrong World Industries by 88.4% in the second quarter. Assenagon Asset Management S.A. now owns 136,597 shares of the construction company's stock valued at $21,913,000 after purchasing an additional 64,077 shares during the period. Bank of America Corp DE lifted its stake in shares of Armstrong World Industries by 5.2% during the 1st quarter. Bank of America Corp DE now owns 457,619 shares of the construction company's stock valued at $75,416,000 after buying an additional 22,477 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Armstrong World Industries by 28.3% in the 1st quarter. Bessemer Group Inc. now owns 46,058 shares of the construction company's stock worth $7,591,000 after buying an additional 10,165 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Armstrong World Industries by 33,007.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 473,104 shares of the construction company's stock worth $90,410,000 after buying an additional 471,675 shares during the period. Finally, Norges Bank purchased a new position in Armstrong World Industries in the 4th quarter valued at approximately $107,716,000. Institutional investors own 98.93% of the company's stock.
Analyst Ratings Changes
AWI has been the topic of a number of analyst reports. UBS Group reissued a "neutral" rating and set a $203.00 target price on shares of Armstrong World Industries in a report on Wednesday, July 29th. Weiss Ratings lowered Armstrong World Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 4th. Bank of America reduced their price target on Armstrong World Industries from $216.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Jefferies Financial Group reiterated a "hold" rating and set a $190.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, July 29th. Finally, Evercore set a $200.00 price objective on Armstrong World Industries in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.00.
Read Our Latest Report on Armstrong World Industries
Armstrong World Industries Stock Performance
NYSE AWI opened at $179.44 on Tuesday. Armstrong World Industries, Inc. has a 1 year low of $150.28 and a 1 year high of $206.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.52 and a quick ratio of 1.06. The stock has a market capitalization of $7.58 billion, a PE ratio of 24.58, a P/E/G ratio of 1.77 and a beta of 1.16. The company's 50 day simple moving average is $164.30 and its two-hundred day simple moving average is $169.32.
Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The construction company reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.11. The firm had revenue of $472.00 million during the quarter, compared to analyst estimates of $461.67 million. Armstrong World Industries had a net margin of 18.60% and a return on equity of 37.35%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 EPS. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. Analysts predict that Armstrong World Industries, Inc. will post 8.39 earnings per share for the current fiscal year.
Armstrong World Industries declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 21st that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Armstrong World Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a dividend of $0.339 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $1.36 annualized dividend and a yield of 0.8%. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.63%.
About Armstrong World Industries
(
Free Report)
Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.
Armstrong's product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.
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