VIRGINIA RETIREMENT SYSTEMS ET Al Sells 4,500 Shares of Armstrong World Industries, Inc. $AWI

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 24.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,200 shares of the construction company’s stock after selling 4,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Armstrong World Industries were worth $2,299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Choreo LLC lifted its stake in shares of Armstrong World Industries by 40.7% during the 3rd quarter. Choreo LLC now owns 3,501 shares of the construction company’s stock worth $567,000 after acquiring an additional 1,013 shares during the last quarter. Childress Capital Advisors LLC purchased a new position in Armstrong World Industries during the 3rd quarter valued at $241,000. BOKF NA grew its position in Armstrong World Industries by 0.9% in the 3rd quarter. BOKF NA now owns 13,273 shares of the construction company’s stock valued at $2,149,000 after acquiring an additional 122 shares during the last quarter. Schwartz Investment Counsel Inc. grew its position in Armstrong World Industries by 1.4% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 79,075 shares of the construction company’s stock valued at $12,805,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Live Oak Investment Partners lifted its position in shares of Armstrong World Industries by 1.6% during the third quarter. Live Oak Investment Partners now owns 8,308 shares of the construction company’s stock worth $1,345,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Up 0.1%

Shares of NYSE:AWI opened at $171.19 on Wednesday. Armstrong World Industries, Inc. has a 52-week low of $150.28 and a 52-week high of $206.04. The stock has a market cap of $7.16 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The business’s 50 day moving average is $165.99 and its 200 day moving average is $169.58. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.55.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 27th. The construction company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.13). The firm had revenue of $475.80 million for the quarter, compared to analysts’ expectations of $472.62 million. Armstrong World Industries had a return on equity of 38.06% and a net margin of 18.38%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. Sell-side analysts predict that Armstrong World Industries, Inc. will post 8.32 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.3730 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.3390. Armstrong World Industries’s dividend payout ratio is currently 18.16%.

Armstrong World Industries announced that its board has authorized a stock repurchase plan on Tuesday, July 21st that permits the company to repurchase $800 million in shares. This repurchase authorization permits the construction company to repurchase up to 12.3% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AWI shares. UBS Group lowered their target price on shares of Armstrong World Industries from $203.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Armstrong World Industries in a research note on Wednesday, October 28th. Jefferies Financial Group reiterated a “hold” rating and set a $190.00 price objective on shares of Armstrong World Industries in a report on Wednesday, July 29th. DA Davidson set a $200.00 price objective on shares of Armstrong World Industries in a report on Wednesday, October 28th. Finally, Weiss Ratings raised shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Armstrong World Industries has a consensus rating of “Moderate Buy” and an average price target of $203.12.

About Armstrong World Industries

Armstrong World Industries, Inc is a building products company that designs and manufactures ceiling, wall and other architectural solutions. Its products are used in commercial, institutional and residential spaces to support acoustical performance, interior design, comfort and functionality.

The company’s offerings include mineral fiber, fiberglass, metal and wood ceilings; suspension systems; acoustical clouds and canopies; wall systems; partitions; and specialty architectural products.