State of Alaska Department of Revenue Buys 1,718 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• The State of Alaska Department of Revenue increased its stake in Armstrong World Industries by 4.6%, now owning 38,733 shares valued at approximately $6.29 million.
• Analysts have mixed views on the stock, with ratings ranging from Buy to Hold, and a consensus target price of $181.50.
• Armstrong World Industries reported a 16.3% increase in revenue compared to last year, with earnings per share of $2.09 for the latest quarter, exceeding expectations.

State of Alaska Department of Revenue lifted its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,733 shares of the construction company's stock after buying an additional 1,718 shares during the quarter. State of Alaska Department of Revenue owned about 0.09% of Armstrong World Industries worth $6,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AWI. Public Employees Retirement System of Ohio bought a new position in shares of Armstrong World Industries in the fourth quarter worth about $2,326,000. Wealth Enhancement Advisory Services LLC bought a new stake in Armstrong World Industries during the 4th quarter valued at approximately $316,000. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $47,000 after purchasing an additional 287 shares during the period. Versant Capital Management Inc bought a new stake in Armstrong World Industries during the 1st quarter valued at approximately $54,000. Finally, NBC Securities Inc. raised its stake in Armstrong World Industries by 125,666.7% during the 1st quarter. NBC Securities Inc. now owns 3,773 shares of the construction company's stock valued at $531,000 after purchasing an additional 3,770 shares during the period. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

AWI has been the topic of several recent analyst reports. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. UBS Group reissued a "neutral" rating and set a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Truist Financial lifted their target price on Armstrong World Industries from $195.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI lifted their target price on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $181.50.

Armstrong World Industries Stock Performance

NYSE AWI opened at $194.07 on Monday. The stock has a market capitalization of $8.40 billion, a PE ratio of 28.71, a P/E/G ratio of 2.13 and a beta of 1.46. The business has a 50 day simple moving average of $190.78 and a two-hundred day simple moving average of $164.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a 1-year low of $122.37 and a 1-year high of $200.84.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.34. The business had revenue of $424.60 million during 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 firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.6%. Armstrong World Industries's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.