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

California Public Employees Retirement System trimmed its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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.

A number of other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its position in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock worth $111,954,000 after buying an additional 34,028 shares during the period. BNP Paribas Financial Markets increased its position in Armstrong World Industries by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company's stock worth $1,447,000 after buying an additional 5,191 shares during the period. Verition Fund Management LLC bought a new position in Armstrong World Industries in the 3rd quarter worth approximately $1,035,000. Principal Securities Inc. increased its position in Armstrong World Industries by 11.1% in the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock worth $389,000 after buying an additional 274 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Armstrong World Industries by 8.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock worth $874,000 after buying an additional 456 shares during the period. 98.93% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

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

Armstrong World Industries Price Performance

AWI stock traded down $4.10 during trading on Thursday, hitting $131.43. The company had a trading volume of 27,261 shares, compared to its average volume of 270,821. The company has a fifty day moving average price of $145.08 and a two-hundred day moving average price of $145.76. 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 company has a market cap of $5.71 billion, a P/E ratio of 23.26, a P/E/G ratio of 1.60 and a beta of 1.20. Armstrong World Industries, Inc. has a fifty-two week low of $110.68 and a fifty-two week high of $164.40.

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

Armstrong World Industries Dividend Announcement

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

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.