Swiss National Bank Trims Stock Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Swiss National Bank cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,500 shares of the construction company’s stock after selling 1,500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Armstrong World Industries worth $11,904,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position 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 Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company’s stock worth $47,000 after acquiring an additional 287 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Armstrong World Industries in the 1st quarter worth about $54,000. Archer Investment Corp bought a new stake in shares of Armstrong World Industries in the 1st quarter worth about $113,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Armstrong World Industries by 29.3% in the 1st quarter. First Horizon Advisors Inc. now owns 895 shares of the construction company’s stock valued at $126,000 after purchasing an additional 203 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They issued an “overweight” rating and a $200.00 price target for the company. Bank of America lifted their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Truist Financial set a $195.00 price target on Armstrong World Industries and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Loop Capital set a $190.00 price objective on shares of Armstrong World Industries and gave the stock a “hold” rating in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.13.

Armstrong World Industries Trading Down 1.0%

Shares of NYSE AWI opened at $194.37 on Friday. Armstrong World Industries, Inc. has a 12-month low of $118.14 and a 12-month high of $197.04. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $169.00 and its 200 day simple moving average is $154.28.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.34. The company had revenue of $424.60 million for the quarter, compared to analysts’ expectations of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.62 earnings per share. Equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a $0.308 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.23 annualized dividend and a yield of 0.6%. Armstrong World Industries’s dividend payout ratio is 18.20%.

Armstrong World Industries Profile

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.