The California Public Employees Retirement System has a $9.28 million equity position in Armstrong World Industries, Inc. (NYSE: AWI)


The California Public Employees Retirement System reduced its holdings of Armstrong World Industries, Inc. (NYSE: AWI – Get Rating) stock by 4.1% in Q1, according to its most recent filing with the Securities and Exchange Commission (SEC). ). The company held 103,149 shares of the construction company after selling 4,399 shares during the period. The California Public Employees Retirement System held about 0.22% of Armstrong World Industries worth $9,284,000 at the end of last quarter.

Other large investors have also increased or reduced their stake in the company. Bank of Montreal Can increased its stake in Armstrong World Industries by 0.9% during the fourth quarter. Bank of Montreal Can now owns 22,100 shares of the construction company worth $2,580,000 after purchasing an additional 199 shares during the period. Loomis Sayles & Co. LP increased its stake in Armstrong World Industries by 0.4% during the fourth quarter. Loomis Sayles & Co. LP now owns 88,822 shares of the construction company worth $10,314,000 after purchasing 311 additional shares during the period. Wolverine Asset Management LLC acquired a new stake in Armstrong World Industries during the first quarter worth approximately $1,350,000. State of New Jersey Common Pension Fund D increased its stake in Armstrong World Industries by 8.1% during the first quarter. New Jersey State Joint Pension Fund D now owns 27,401 shares of the construction company worth $2,466,000 after purchasing an additional 2,064 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Armstrong World Industries by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 133,533 shares of the construction company valued at $15,506,000 after acquiring an additional 4,513 shares during the period. Institutional investors and hedge funds own 98.92% of the company’s shares.

Armstrong World Industries Stock Performance

Armstrong World Industries shares opened at $88.18 on Monday. The company’s 50-day simple moving average is $81.05 and its 200-day simple moving average is $87.30. The company has a market capitalization of $4.09 billion, a P/E ratio of 22.10, a price-to-earnings growth ratio of 1.43 and a beta of 1.23. Armstrong World Industries, Inc. has a 12-month low of $73.25 and a 12-month high of $118.14. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt ratio of 1.25.

Armstrong World Industries (NYSE: AWI – Get Rating) last released its quarterly results on Tuesday, July 26. The construction company reported EPS of $1.29 for the quarter, missing analyst consensus estimates of $1.38 per ($0.09). The company posted revenue of $321.00 million for the quarter, versus a consensus estimate of $317.19 million. Armstrong World Industries had a return on equity of 41.11% and a net margin of 16.07%. The company’s revenues increased by 14.6% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.16. As a group, analysts expect Armstrong World Industries, Inc. to post EPS of 5.12 for the current year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 18. Shareholders of record on Thursday, August 4 will receive a dividend of $0.231. This represents a dividend of $0.92 on an annualized basis and a yield of 1.05%. The ex-date of this dividend is Wednesday, August 3. Armstrong World Industries’ dividend payout ratio is currently 23.06%.

Wall Street analysts predict growth

A number of equity research analysts have commented on AWI shares. UBS Group reduced its price target on Armstrong World Industries from $86.00 to $82.00 and set a “sell” rating for the company in a Wednesday July 27 research note. Loop Capital upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a Wednesday, June 15 research note. They noted that the move was a review call. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a Monday, Aug. 1 research note. Truist Financial reduced its price target on Armstrong World Industries from $124.00 to $110.00 in a Wednesday, April 27 research note. Finally, the Goldman Sachs Group upgraded Armstrong World Industries from a “neutral” rating to a “buy” rating and set a target price of $93.00 on the stock in a Wednesday, July 13 report. Two investment analysts gave the stock a sell rating and eight gave the company a buy rating. According to MarketBeat.com, Armstrong World Industries has a consensus rating of “Moderate Buy” and a consensus target price of $111.44.

Armstrong World Industries Company Profile

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Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures and sells ceiling systems primarily for 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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