Principal Financial Group Inc. Has $27.10 Million Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Principal Financial Group Inc. lessened its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,176 shares of the construction company’s stock after selling 8,798 shares during the quarter. Principal Financial Group Inc.’s holdings in Armstrong World Industries were worth $27,098,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AWI. State Street Corp boosted its holdings in Armstrong World Industries by 3.7% in the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after acquiring an additional 51,839 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Armstrong World Industries by 1.5% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after purchasing an additional 17,075 shares in the last quarter. Geode Capital Management LLC grew its position in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after purchasing an additional 34,028 shares during the period. Van Berkom & Associates Inc. increased its stake in Armstrong World Industries by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after purchasing an additional 14,450 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after buying an additional 67,798 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Armstrong World Industries Stock Up 1.1 %

Shares of NYSE:AWI opened at $144.72 on Wednesday. The company has a market capitalization of $6.31 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. Armstrong World Industries, Inc. has a 1 year low of $95.24 and a 1 year high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The business has a fifty day moving average price of $150.15 and a two-hundred day moving average price of $132.76.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 earnings per share. Analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.308 dividend. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.85%. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.