Principal Financial Group Inc. Has $27.10 Million Position in Armstrong World Industries, Inc. (NYSE:AWI)

Principal Financial Group Inc. trimmed its holdings in Armstrong World Industries, Inc. (NYSE:AWI) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,176 shares of the construction company’s stock after selling 8,798 shares during the period. Principal Financial Group Inc. owned 0.47% of Armstrong World Industries worth $27,098,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AWI. Jupiter Asset Management Ltd. boosted its holdings in Armstrong World Industries by 1,369.3% in the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after purchasing an additional 229,378 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Armstrong World Industries by 46.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after acquiring an additional 145,133 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Armstrong World Industries by 35.0% in the 2nd quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after acquiring an additional 110,111 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after purchasing an additional 79,475 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Armstrong World Industries by 27.8% during the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after purchasing an additional 67,954 shares during the period. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $154.64 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The firm’s 50-day moving average is $135.57 and its 200-day moving average is $124.58. Armstrong World Industries, Inc. has a 52-week low of $80.14 and a 52-week high of $156.38. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.97 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period in the previous year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 21.69%.

Analyst Upgrades and Downgrades

AWI has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Loop Capital boosted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.83.

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.