New York State Teachers Retirement System Invests $1.08 Million in Armstrong World Industries, Inc. (NYSE:AWI)

New York State Teachers Retirement System acquired a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the construction company’s stock, valued at approximately $1,082,000.

Other large investors also recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Armstrong World Industries by 182.0% during the 3rd quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock worth $28,000 after buying an additional 253 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Armstrong World Industries in the 2nd quarter valued at about $38,000. Covestor Ltd raised its holdings in shares of Armstrong World Industries by 89.9% in the 1st quarter. Covestor Ltd now owns 1,272 shares of the construction company’s stock valued at $115,000 after purchasing an additional 602 shares during the period. SRS Capital Advisors Inc. raised its holdings in shares of Armstrong World Industries by 19.2% in the 2nd quarter. SRS Capital Advisors Inc. now owns 1,846 shares of the construction company’s stock valued at $136,000 after purchasing an additional 297 shares during the period. Finally, MetLife Investment Management LLC bought a new stake in shares of Armstrong World Industries in the 1st quarter valued at about $178,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI opened at $114.69 on Thursday. The company’s 50 day moving average price is $118.64 and its two-hundred day moving average price is $98.60. Armstrong World Industries, Inc. has a 12-month low of $62.03 and a 12-month high of $125.56. The firm has a market cap of $5.02 billion, a PE ratio of 22.94, a PEG ratio of 1.79 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. Armstrong World Industries had a net margin of 17.28% and a return on equity of 41.56%. The firm had revenue of $312.30 million for the quarter, compared to analyst estimates of $305.44 million. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Armstrong World Industries, Inc. will post 5.74 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.98%. Armstrong World Industries’s payout ratio is presently 22.40%.

Analyst Ratings Changes

AWI has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group raised shares of Armstrong World Industries from a “sell” rating to a “neutral” rating and upped their target price for the company from $75.00 to $103.00 in a report on Thursday, January 4th. Truist Financial increased their price target on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries currently has an average rating of “Moderate Buy” and an average target price of $98.29.

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.