Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 38.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,568 shares of the construction company’s stock after selling 10,294 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Armstrong World Industries were worth $1,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC grew its holdings in Armstrong World Industries by 142.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,440 shares of the construction company’s stock valued at $1,223,000 after buying an additional 7,317 shares in the last quarter. Norges Bank purchased a new stake in shares of Armstrong World Industries in the 4th quarter valued at approximately $42,297,000. Corient Private Wealth LLC increased its holdings in shares of Armstrong World Industries by 6.4% during the 4th quarter. Corient Private Wealth LLC now owns 14,088 shares of the construction company’s stock worth $1,385,000 after buying an additional 842 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Armstrong World Industries during the 4th quarter valued at approximately $1,639,000. Finally, Chesapeake Capital Corp IL acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $918,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Down 0.4 %

Shares of AWI opened at $131.30 on Monday. The company’s 50-day simple moving average is $124.53 and its 200-day simple moving average is $119.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. Armstrong World Industries, Inc. has a 1 year low of $68.35 and a 1 year high of $134.90. The stock has a market capitalization of $5.75 billion, a PE ratio of 24.68, a P/E/G ratio of 1.73 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The company had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $360.36 million. During the same quarter last year, the company posted $1.38 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AWI. Truist Financial raised their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. UBS Group upped their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI upped their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.75.

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.