California Public Employees Retirement System Sells 1,939 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

California Public Employees Retirement System lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,024 shares of the construction company’s stock after selling 1,939 shares during the period. California Public Employees Retirement System owned 0.20% of Armstrong World Industries worth $12,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Armstrong World Industries by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after purchasing an additional 5,191 shares in the last quarter. Walleye Capital LLC acquired a new position in Armstrong World Industries during the 3rd quarter worth about $225,000. Verition Fund Management LLC acquired a new position in Armstrong World Industries during the 3rd quarter worth about $1,035,000. Centiva Capital LP bought a new stake in Armstrong World Industries during the 3rd quarter worth about $489,000. Finally, HighTower Advisors LLC increased its position in Armstrong World Industries by 1.1% in the 3rd quarter. HighTower Advisors LLC now owns 15,730 shares of the construction company’s stock valued at $2,073,000 after acquiring an additional 177 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group increased their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Truist Financial boosted their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $153.33.

Armstrong World Industries Stock Down 3.3 %

Shares of Armstrong World Industries stock opened at $130.56 on Friday. The business has a fifty day simple moving average of $147.04 and a 200 day simple moving average of $145.89. The stock has a market cap of $5.67 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s payout ratio is currently 20.40%.

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.