Maryland State Retirement & Pension System Increases Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Maryland State Retirement & Pension System grew its position in Armstrong World Industries, Inc. (NYSE:AWI) by 470.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,473 shares of the construction company’s stock after buying an additional 16,057 shares during the period. Maryland State Retirement & Pension System’s holdings in Armstrong World Industries were worth $1,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp purchased a new stake in Armstrong World Industries during the 4th quarter valued at $204,000. Amalgamated Bank lifted its stake in Armstrong World Industries by 189.9% during the 4th quarter. Amalgamated Bank now owns 22,038 shares of the construction company’s stock valued at $2,167,000 after acquiring an additional 14,435 shares during the period. Savant Capital LLC boosted its holdings in shares of Armstrong World Industries by 24.3% during the 4th quarter. Savant Capital LLC now owns 7,247 shares of the construction company’s stock valued at $713,000 after acquiring an additional 1,419 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Armstrong World Industries by 37.9% in the fourth quarter. Van ECK Associates Corp now owns 13,176 shares of the construction company’s stock worth $1,295,000 after acquiring an additional 3,623 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Armstrong World Industries by 24.6% during the fourth quarter. Russell Investments Group Ltd. now owns 15,708 shares of the construction company’s stock valued at $1,544,000 after purchasing an additional 3,102 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Shares of NYSE:AWI traded up $0.38 during mid-day trading on Wednesday, reaching $116.38. The stock had a trading volume of 8,973 shares, compared to its average volume of 363,066. The company has a market cap of $5.09 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. The business’s 50 day moving average price is $119.72 and its 200 day moving average price is $103.17. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. Armstrong World Industries, Inc. has a 1 year low of $62.03 and a 1 year high of $125.56.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $319.44 million. During the same period in the prior year, the company earned $1.12 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts expect that Armstrong World Industries, Inc. will post 5.89 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.