Canada Pension Plan Investment Board trimmed its position in Armstrong World Industries Inc (NYSE:AWI) by 53.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,780 shares of the construction company’s stock after selling 214,920 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.39% of Armstrong World Industries worth $18,349,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Armstrong World Industries by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,301,884 shares of the construction company’s stock valued at $75,782,000 after acquiring an additional 22,959 shares in the last quarter. SG Americas Securities LLC bought a new position in Armstrong World Industries in the 1st quarter valued at $484,000. California Public Employees Retirement System grew its position in shares of Armstrong World Industries by 5.2% during the 1st quarter. California Public Employees Retirement System now owns 90,871 shares of the construction company’s stock valued at $7,217,000 after purchasing an additional 4,457 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Armstrong World Industries during the 1st quarter valued at $781,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Armstrong World Industries in the first quarter worth $1,236,000. 99.54% of the stock is currently owned by hedge funds and other institutional investors.
NYSE AWI opened at $92.62 on Wednesday. Armstrong World Industries Inc has a 52-week low of $54.34 and a 52-week high of $104.50. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.07 and a current ratio of 1.20. The company has a market capitalization of $4.57 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.31 and a beta of 1.58. The company has a fifty day moving average of $95.46 and a 200-day moving average of $89.17.
Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, July 29th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10. Armstrong World Industries had a net margin of 20.17% and a return on equity of 77.10%. The company had revenue of $272.00 million during the quarter, compared to analyst estimates of $278.75 million. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that Armstrong World Industries Inc will post 4.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Wednesday, August 7th. Armstrong World Industries’s payout ratio is currently 19.13%.
A number of brokerages recently issued reports on AWI. KeyCorp increased their price objective on Armstrong World Industries from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. SunTrust Banks upped their target price on Armstrong World Industries to $109.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. They noted that the move was a valuation call. Bank of America raised their price target on Armstrong World Industries from $108.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank reiterated a “buy” rating and set a $107.00 price target on shares of Armstrong World Industries in a research report on Monday, June 24th. Finally, ValuEngine lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $91.45.
Armstrong World Industries Profile
Armstrong World Industries, Inc 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.
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