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

New York State Teachers Retirement System trimmed its position in Armstrong World Industries, Inc. (NYSE:AWI) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,100 shares of the construction company’s stock after selling 500 shares during the period. New York State Teachers Retirement System’s holdings in Armstrong World Industries were worth $1,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Armstrong World Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock worth $656,922,000 after purchasing an additional 34,579 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock valued at $169,427,000 after buying an additional 19,787 shares during the period. Geode Capital Management LLC raised its position in shares of Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company’s stock valued at $125,444,000 after buying an additional 35,738 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Armstrong World Industries by 140.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after buying an additional 389,000 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Armstrong World Industries by 267.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock valued at $75,273,000 after buying an additional 387,537 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AWI. Bank of America lifted their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. began 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, Loop Capital reduced their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and an average target price of $162.88.

Armstrong World Industries Stock Up 1.0%

Shares of NYSE AWI opened at $168.29 on Thursday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.09 and a beta of 1.37. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.67. Armstrong World Industries, Inc. has a 52-week low of $112.20 and a 52-week high of $169.32. The business’s 50 day moving average is $156.62 and its two-hundred day moving average is $148.29.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 earnings per share. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a $0.308 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.73%. Armstrong World Industries’s dividend payout ratio (DPR) is 19.68%.

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.