Royal Bank of Canada Sells 135,682 Shares of Armstrong World Industries, Inc. $AWI

Royal Bank of Canada lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 64.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,170 shares of the construction company’s stock after selling 135,682 shares during the quarter. Royal Bank of Canada owned 0.17% of Armstrong World Industries worth $10,590,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Quarry LP boosted its position in Armstrong World Industries by 38.2% during the 1st quarter. Quarry LP now owns 1,046 shares of the construction company’s stock worth $147,000 after acquiring an additional 289 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Armstrong World Industries by 12.6% during the 1st quarter. Evergreen Capital Management LLC now owns 2,790 shares of the construction company’s stock worth $393,000 after acquiring an additional 312 shares during the last quarter. Magnetar Financial LLC acquired a new position in Armstrong World Industries during the 1st quarter worth approximately $9,853,000. State of Wyoming boosted its position in Armstrong World Industries by 17.7% during the 1st quarter. State of Wyoming now owns 3,084 shares of the construction company’s stock worth $434,000 after acquiring an additional 463 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Armstrong World Industries during the 1st quarter worth approximately $6,649,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 1.7%

AWI stock opened at $199.09 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The company has a fifty day moving average price of $184.57 and a two-hundred day moving average price of $160.46. Armstrong World Industries, Inc. has a one year low of $121.53 and a one year high of $199.73. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.46.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $424.60 million during the quarter, compared to analysts’ expectations of $404.05 million. During the same period in the previous year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. Equities analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 18.20%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AWI shares. Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Bank of America increased their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Evercore ISI increased their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a report on Wednesday, July 30th. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the company a “hold” rating in a report on Wednesday, July 30th. Finally, Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the company a “buy” rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.13.

About Armstrong World Industries

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.