Teacher Retirement System of Texas Cuts Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

Teacher Retirement System of Texas lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,631 shares of the construction company’s stock after selling 2,009 shares during the quarter. Teacher Retirement System of Texas’ holdings in Armstrong World Industries were worth $2,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AWI. Charles Schwab Investment Management Inc. raised its stake in Armstrong World Industries by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after acquiring an additional 18,333 shares during the period. Citigroup Inc. raised its position in Armstrong World Industries by 7.3% in the third quarter. Citigroup Inc. now owns 32,697 shares of the construction company’s stock worth $4,297,000 after acquiring an additional 2,215 shares in the last quarter. Cerity Partners LLC lifted its holdings in Armstrong World Industries by 31.1% in the 3rd quarter. Cerity Partners LLC now owns 17,038 shares of the construction company’s stock valued at $2,239,000 after acquiring an additional 4,044 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Armstrong World Industries by 166.2% during the 3rd quarter. Bank of Montreal Can now owns 48,963 shares of the construction company’s stock valued at $6,417,000 after purchasing an additional 30,570 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of Armstrong World Industries by 196.1% in the 3rd quarter. Quantbot Technologies LP now owns 5,389 shares of the construction company’s stock worth $708,000 after purchasing an additional 3,569 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Price Performance

Shares of AWI opened at $145.96 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average of $148.60 and a 200-day moving average of $145.17. The stock has a market capitalization of $6.34 billion, a P/E ratio of 25.74, a P/E/G ratio of 1.60 and a beta of 1.25. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40.

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

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.84%. Armstrong World Industries’s payout ratio is 20.40%.

Analyst Upgrades and Downgrades

AWI has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. UBS Group lifted their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Truist Financial increased their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $153.33.

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.