Royal Bank of Canada Sells 135,682 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• Royal Bank of Canada reduced its holdings in Armstrong World Industries by 64.3% in Q1, selling 135,682 shares and retaining only 75,170 shares valued at approximately $10.59 million.
• Armstrong World Industries reported a quarterly EPS of $2.09, exceeding analysts' expectations of $1.75, and noted a revenue increase of 16.3% year-over-year.
• The company announced a quarterly dividend of $0.308 per share, representing an annualized dividend yield of 0.6% and a payout ratio of 18.20%.

Royal Bank of Canada lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 64.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,170 shares of the construction company's stock after selling 135,682 shares during the period. Royal Bank of Canada owned about 0.17% of Armstrong World Industries worth $10,590,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised its position in Armstrong World Industries by 100.0% during 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 raised its position in Armstrong World Industries by 652.3% during 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 during the 1st quarter worth $54,000. Covestor Ltd raised its position in Armstrong World Industries by 40.5% during 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 during the 1st quarter worth $91,000. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Down 0.6%

Shares of Armstrong World Industries stock traded down $1.18 during trading hours on Wednesday, reaching $193.87. The company's stock had a trading volume of 289,993 shares, compared to its average volume of 321,422. Armstrong World Industries, Inc. has a one year low of $122.37 and a one year high of $200.84. The company has a market capitalization of $8.39 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.14 and a beta of 1.46. The stock's fifty day simple moving average is $186.82 and its two-hundred day simple moving average is $161.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. During the same quarter in the prior year, the business posted $1.62 EPS. The business's revenue was up 16.3% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.308 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. Armstrong World Industries's dividend payout ratio is presently 18.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AWI. Truist Financial upped their price target on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Evercore ISI upped their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price target on the stock. Finally, UBS Group reaffirmed a "neutral" rating and issued a $178.00 price target (up from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.50.

Armstrong World Industries 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.