New York State Teachers Retirement System Sells 100 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

New York State Teachers Retirement System reduced its position in Armstrong World Industries, Inc. (NYSE:AWI) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,600 shares of the construction company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Armstrong World Industries were worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AWI. Jupiter Asset Management Ltd. increased its position in Armstrong World Industries by 1,369.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock valued at $27,872,000 after purchasing an additional 229,378 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after purchasing an additional 145,133 shares in the last quarter. Natixis Advisors LLC increased its holdings in Armstrong World Industries by 35.0% during the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after buying an additional 110,111 shares during the period. Squarepoint Ops LLC raised its stake in Armstrong World Industries by 171.0% in the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after buying an additional 79,475 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after buying an additional 67,954 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AWI shares. Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Loop Capital lifted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Truist Financial lifted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $153.70 on Friday. Armstrong World Industries, Inc. has a fifty-two week low of $79.39 and a fifty-two week high of $154.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market cap of $6.70 billion, a PE ratio of 27.11, a P/E/G ratio of 1.96 and a beta of 1.13. The business has a 50-day simple moving average of $134.39 and a two-hundred day simple moving average of $123.98.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same period last year, the business earned $1.60 EPS. Armstrong World Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts expect that Armstrong World Industries, Inc. will post 6.17 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.308 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is currently 19.75%.

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.