Public Sector Pension Investment Board Sells 3,500 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Public Sector Pension Investment Board trimmed its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,766 shares of the construction company's stock after selling 3,500 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Armstrong World Industries worth $12,192,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AWI. Assenagon Asset Management S.A. lifted its position in Armstrong World Industries by 107.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company's stock valued at $7,283,000 after acquiring an additional 33,290 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Armstrong World Industries by 35.5% in the second quarter. Harbor Capital Advisors Inc. now owns 21,524 shares of the construction company's stock valued at $2,437,000 after purchasing an additional 5,637 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Armstrong World Industries during the first quarter valued at approximately $818,000. Natixis Advisors LLC grew its holdings in Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company's stock worth $64,678,000 after buying an additional 67,798 shares in the last quarter. Finally, Quest Partners LLC raised its position in Armstrong World Industries by 32.9% in the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company's stock valued at $2,625,000 after buying an additional 4,945 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AWI has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a "buy" 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 boosted their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Finally, Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $140.83.

Armstrong World Industries Stock Performance

Shares of AWI stock traded down $0.32 during trading hours on Friday, hitting $159.90. 112,734 shares of the company were exchanged, compared to its average volume of 302,066. Armstrong World Industries, Inc. has a 52-week low of $83.59 and a 52-week high of $164.40. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $143.22 and a 200 day simple moving average of $127.84. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 2.05 and a beta of 1.13.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its 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. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. Research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.308 dividend. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. Armstrong World Industries's dividend payout ratio (DPR) is presently 21.69%.

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.