Royal Bank of Canada Sells 16,585 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• Royal Bank of Canada reduced its Armstrong World Industries stake by 17%, selling 16,585 shares and retaining 81,208 shares valued at approximately $13.4 million. Institutional investors collectively own 98.93% of AWI.
• Armstrong reported quarterly EPS of $2.36, exceeding expectations of $2.25, while revenue rose 11.2% year over year to $472 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $213.
• The company declared a quarterly dividend of $0.339 per share and authorized an $800 million share-repurchase program, allowing buybacks of up to 12.3% of outstanding shares.

Royal Bank of Canada lessened its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 17.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,208 shares of the construction company's stock after selling 16,585 shares during the period. Royal Bank of Canada owned about 0.19% of Armstrong World Industries worth $13,383,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its stake in Armstrong World Industries by 77.0% during the 4th quarter. Larson Financial Group LLC now owns 131 shares of the construction company's stock valued at $25,000 after acquiring an additional 57 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Armstrong World Industries during the fourth quarter valued at about $27,000. Cullen Frost Bankers Inc. boosted its holdings in Armstrong World Industries by 124.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 177 shares of the construction company's stock worth $34,000 after purchasing an additional 98 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Armstrong World Industries by 426.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the construction company's stock worth $35,000 after purchasing an additional 145 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Armstrong World Industries in the 4th quarter valued at about $39,000. Institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AWI. Weiss Ratings downgraded Armstrong World Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 4th. Bank of America dropped their price target on Armstrong World Industries from $216.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Jefferies Financial Group reissued a "hold" rating and issued a $190.00 price objective on shares of Armstrong World Industries in a research report on Wednesday, July 29th. UBS Group restated a "neutral" rating and issued a $203.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, July 29th. Finally, Evercore set a $200.00 target price on Armstrong World Industries in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Armstrong World Industries has an average rating of "Moderate Buy" and a consensus price target of $213.00.

Armstrong World Industries Trading Up 0.8%

Shares of AWI opened at $185.41 on Friday. The business has a 50-day moving average of $160.79 and a 200 day moving average of $169.72. Armstrong World Industries, Inc. has a fifty-two week low of $150.28 and a fifty-two week high of $206.08. The firm has a market cap of $7.84 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.52.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The construction company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. The business had revenue of $472.00 million for the quarter, compared to the consensus estimate of $461.67 million. Armstrong World Industries had a net margin of 18.60% and a return on equity of 37.35%. The company's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. As a group, research analysts forecast that Armstrong World Industries, Inc. will post 8.39 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.339 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 5th. Armstrong World Industries's dividend payout ratio (DPR) is 18.63%.

Armstrong World Industries announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 21st that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Armstrong World Industries Company Profile

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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