Fifth Third Bancorp Lowers Stock Holdings in Armstrong World Industries, Inc. $AWI

Fifth Third Bancorp reduced its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 43.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 856 shares of the construction company’s stock after selling 665 shares during the period. Fifth Third Bancorp’s holdings in Armstrong World Industries were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AWI. Golden State Wealth Management LLC raised its stake in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock valued at $39,000 after acquiring an additional 140 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Armstrong World Industries in the first quarter valued at $54,000. Parallel Advisors LLC raised its stake in shares of Armstrong World Industries by 28.9% in the second quarter. Parallel Advisors LLC now owns 459 shares of the construction company’s stock valued at $75,000 after acquiring an additional 103 shares in the last quarter. Covestor Ltd raised its stake in shares of Armstrong World Industries by 40.5% in the first quarter. Covestor Ltd now owns 590 shares of the construction company’s stock valued at $83,000 after acquiring an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Armstrong World Industries in the first quarter valued at $91,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AWI. Wall Street Zen cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 price target on the stock. Evercore ISI raised their price target on Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research note on Wednesday, July 30th. Truist Financial raised their price target on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Loop Capital set a $190.00 price target on Armstrong World Industries and gave the company a “hold” rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.50.

Armstrong World Industries Price Performance

Shares of AWI opened at $196.15 on Thursday. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $200.84. The stock’s 50 day moving average is $192.55 and its two-hundred day moving average is $165.07. The firm has a market capitalization of $8.49 billion, a PE ratio of 29.02, a P/E/G ratio of 2.16 and a beta of 1.45. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The company had revenue of $424.60 million for the quarter, compared to analyst estimates of $404.05 million. During the same quarter in the previous year, the company earned $1.62 EPS. The firm’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. Research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

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

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.