California Public Employees Retirement System Cuts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

California Public Employees Retirement System lessened its stake in Armstrong World Industries, Inc. (NYSE:AWIGet Rating) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 98,885 shares of the construction company’s stock after selling 4,264 shares during the quarter. California Public Employees Retirement System’s holdings in Armstrong World Industries were worth $7,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Armstrong World Industries by 20.8% in the second quarter. Principal Financial Group Inc. now owns 5,708 shares of the construction company’s stock worth $428,000 after acquiring an additional 981 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Armstrong World Industries in the second quarter worth about $33,129,000. Inspire Investing LLC boosted its holdings in Armstrong World Industries by 9.0% in the second quarter. Inspire Investing LLC now owns 2,834 shares of the construction company’s stock worth $212,000 after acquiring an additional 235 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Armstrong World Industries by 1.2% in the second quarter. Lazard Asset Management LLC now owns 2,223,032 shares of the construction company’s stock worth $166,637,000 after acquiring an additional 27,229 shares in the last quarter. Finally, Duality Advisers LP acquired a new stake in Armstrong World Industries in the second quarter worth about $343,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AWI shares. Credit Suisse Group lowered their price target on Armstrong World Industries from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group decreased their target price on Armstrong World Industries from $86.00 to $82.00 and set a “sell” rating for the company in a report on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Armstrong World Industries from $112.00 to $113.00 in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.44.

Armstrong World Industries Trading Up 0.5 %

Shares of NYSE:AWI opened at $76.80 on Thursday. Armstrong World Industries, Inc. has a 12-month low of $71.64 and a 12-month high of $118.14. The company has a market capitalization of $3.51 billion, a PE ratio of 18.37, a PEG ratio of 1.37 and a beta of 1.13. The business has a 50 day moving average of $78.75 and a two-hundred day moving average of $81.73. The company has a current ratio of 1.66, a quick ratio of 1.11 and a debt-to-equity ratio of 1.29.

Armstrong World Industries (NYSE:AWIGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The construction company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). Armstrong World Industries had a net margin of 16.18% and a return on equity of 42.46%. The company had revenue of $325.00 million during the quarter, compared to analyst estimates of $331.54 million. During the same period in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, analysts forecast that Armstrong World Industries, Inc. will post 4.8 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were issued a $0.254 dividend. The ex-dividend date was Wednesday, November 2nd. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.23. This represents a $1.02 dividend on an annualized basis and a yield of 1.32%. Armstrong World Industries’s payout ratio is presently 24.40%.

Armstrong World Industries Profile

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Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

Further Reading

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Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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