Voya Investment Management LLC Lowers Position in Armstrong World Industries, Inc. $AWI

Voya Investment Management LLC cut its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 32.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,459 shares of the construction company’s stock after selling 25,267 shares during the period. Voya Investment Management LLC owned approximately 0.12% of Armstrong World Industries worth $7,390,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC lifted its stake in Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after acquiring an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Armstrong World Industries by 652.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new stake in Armstrong World Industries during the 1st quarter worth about $54,000. Covestor Ltd boosted its position in shares of Armstrong World Industries by 40.5% during the 1st quarter. Covestor Ltd now owns 590 shares of the construction company’s stock worth $83,000 after acquiring an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Armstrong World Industries in the 1st quarter valued at about $91,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Trading Down 0.6%

NYSE:AWI opened at $193.87 on Thursday. Armstrong World Industries, Inc. has a 1 year low of $122.37 and a 1 year high of $200.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a fifty day moving average price of $186.82 and a two-hundred day moving average price of $161.65. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 2.14 and a beta of 1.46.

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

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 18.20%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 target price for the company. UBS Group reaffirmed a “neutral” rating and issued a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Evercore ISI boosted their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. Finally, Truist Financial upped their price objective on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.50.

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.