Arizona State Retirement System Reduces Position in Armstrong World Industries, Inc. (NYSE:AWI)

Arizona State Retirement System decreased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,503 shares of the construction company’s stock after selling 180 shares during the quarter. Arizona State Retirement System’s holdings in Armstrong World Industries were worth $1,761,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after buying an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Armstrong World Industries by 652.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Armstrong World Industries during the first quarter worth $54,000. Farther Finance Advisors LLC grew its holdings in shares of Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock worth $60,000 after buying an additional 202 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Armstrong World Industries by 29.3% during the first quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company’s stock worth $126,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AWI shares. JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They set an “overweight” rating and a $200.00 price target on the stock. Loop Capital lowered their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Finally, Bank of America boosted their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $162.88.

Armstrong World Industries Trading Down 1.0%

NYSE AWI opened at $165.19 on Friday. The firm’s 50-day moving average is $158.95 and its two-hundred day moving average is $149.41. Armstrong World Industries, Inc. has a 12 month low of $117.92 and a 12 month high of $170.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. The stock has a market capitalization of $7.17 billion, a P/E ratio of 26.43, a PEG ratio of 2.09 and a beta of 1.37.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The company had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $370.71 million. During the same quarter in the prior year, the company posted $1.38 earnings per share. Armstrong World Industries’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.308 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.75%. Armstrong World Industries’s dividend payout ratio is presently 19.68%.

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.