Armstrong World Industries, Inc. (NYSE:AWI) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 470.1% in the fourth quarter, HoldingsChannel reports. The fund owned 19,473 shares of the construction company’s stock after buying an additional 16,057 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Armstrong World Industries were worth $1,915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Armstrong World Industries in the fourth quarter valued at $27,000. Signaturefd LLC lifted its stake in shares of Armstrong World Industries by 182.0% in the 3rd quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Armstrong World Industries during the 4th quarter worth approximately $49,000. SRS Capital Advisors Inc. increased its position in Armstrong World Industries by 19.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,209 shares of the construction company’s stock worth $159,000 after purchasing an additional 363 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in Armstrong World Industries in the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Evercore ISI upped their target price on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 1st. Truist Financial raised their target price on Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group increased their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Armstrong World Industries presently has an average rating of “Hold” and a consensus target price of $110.17.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded up $0.38 during trading on Wednesday, hitting $116.38. 8,973 shares of the company traded hands, compared to its average volume of 363,066. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.74 and a beta of 1.12. Armstrong World Industries, Inc. has a one year low of $62.03 and a one year high of $125.56. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average is $119.72 and its 200-day moving average is $103.17.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is 21.05%.

Armstrong World Industries Company 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.