Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,501 shares of the construction company’s stock after selling 345 shares during the period. Arizona State Retirement System’s holdings in Armstrong World Industries were worth $1,229,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AWI. Price T Rowe Associates Inc. MD raised its stake in shares of Armstrong World Industries by 649.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 678,011 shares of the construction company’s stock worth $48,303,000 after buying an additional 587,484 shares during the period. Jane Street Group LLC increased its position in shares of Armstrong World Industries by 103.1% during the fourth quarter. Jane Street Group LLC now owns 13,456 shares of the construction company’s stock worth $923,000 after purchasing an additional 450,050 shares in the last quarter. Norges Bank purchased a new stake in shares of Armstrong World Industries during the fourth quarter worth approximately $30,725,000. FMR LLC increased its position in shares of Armstrong World Industries by 25.9% during the third quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock worth $117,068,000 after purchasing an additional 334,065 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Armstrong World Industries by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 398,312 shares of the construction company’s stock worth $28,375,000 after purchasing an additional 330,646 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on AWI shares. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Truist Financial boosted their price target on Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. UBS Group upgraded Armstrong World Industries from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $75.00 to $103.00 in a research report on Thursday, January 4th. Finally, The Goldman Sachs Group boosted their price target on Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Armstrong World Industries has a consensus rating of “Moderate Buy” and an average price target of $98.29.

Armstrong World Industries Stock Down 1.2 %

Shares of NYSE:AWI opened at $117.19 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $117.79 and a two-hundred day moving average of $97.87. The stock has a market cap of $5.13 billion, a P/E ratio of 23.44, a PEG ratio of 1.80 and a beta of 1.12. Armstrong World Industries, Inc. has a 52-week low of $62.03 and a 52-week high of $125.56.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. The company had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. On average, research analysts expect that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 28th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 22.40%.

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.