VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3 Million in Armstrong World Industries, Inc. $AWI

Key Points

• Virginia Retirement Systems purchased 18,700 shares of Armstrong World Industries, valued at approximately $3 million. Institutional investors collectively own 98.93% of the company.
• Armstrong reported quarterly EPS of $2.36, beating estimates of $2.25, while revenue rose 11.2% year over year to $472 million. The company also authorized an $800 million share buyback, representing up to 12.3% of outstanding shares.
• Despite shares recently trading down 2.7% to $162.70, analysts maintain a “Moderate Buy” consensus with an average price target of $213.25; the company also pays a quarterly dividend yielding approximately 0.8%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,700 shares of the construction company's stock, valued at approximately $3,000,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in Armstrong World Industries by 77.0% in the fourth 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 Armstrong World Industries in the 4th quarter worth $27,000. Cullen Frost Bankers Inc. lifted its position in shares of Armstrong World Industries by 124.1% in the 4th 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 period. CIBC Private Wealth Group LLC lifted its position in shares of 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 during the period. Finally, Western Wealth Management LLC bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at about $38,000. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Down 2.7%

Shares of Armstrong World Industries stock opened at $162.70 on Friday. Armstrong World Industries, Inc. has a 1 year low of $150.28 and a 1 year high of $206.08. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.63 and a beta of 1.17. The company has a 50-day moving average of $170.31 and a 200 day moving average of $166.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.52 and a quick ratio of 1.06.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The construction company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.25 by $0.11. The business had revenue of $472.00 million for 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%. Armstrong World Industries's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. As a group, sell-side analysts anticipate 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 initiated a share buyback plan on Tuesday, July 21st that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 12.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a $0.339 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Armstrong World Industries's dividend payout ratio is presently 18.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AWI shares. Jefferies Financial Group reissued a "hold" rating and issued a $190.00 price target on shares of Armstrong World Industries in a research note on Wednesday, July 29th. DA Davidson reaffirmed a "buy" rating and set a $215.00 price objective on shares of Armstrong World Industries in a research report on Tuesday, September 1st. UBS Group reiterated 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 raised Armstrong World Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Finally, Truist Financial set a $230.00 target price on Armstrong World Industries in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Armstrong World Industries currently has a consensus rating of "Moderate Buy" and an average price target of $213.25.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a manufacturer of ceiling, wall and suspension-system solutions for commercial and residential spaces. The company develops products designed to improve acoustics, aesthetics, lighting integration, indoor environmental quality and installation efficiency.

Its product portfolio includes mineral fiber, fiberglass, metal and wood ceilings; ceiling suspension systems; acoustical wall panels; partitions; and specialty architectural systems. Armstrong's solutions are used in offices, schools, health care facilities, retail spaces, transportation hubs, hospitality venues and other building environments.

Armstrong World Industries traces its roots to 1860 and is headquartered in Lancaster, Pennsylvania.

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