Employees Retirement System of Texas Acquires New Position in Armstrong World Industries, Inc. $AWI

Employees Retirement System of Texas acquired a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the second quarter, HoldingsChannel.com reports. The firm acquired 358 shares of the construction company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. MAI Capital Management purchased a new stake in shares of Armstrong World Industries during the second quarter valued at approximately $47,000. Parallel Advisors LLC boosted its stake in Armstrong World Industries by 28.9% during the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company’s stock valued at $75,000 after purchasing an additional 103 shares during the last quarter. Covestor Ltd increased its holdings in shares of Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company’s stock worth $83,000 after purchasing an additional 170 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Armstrong World Industries in the first quarter worth $91,000. Finally, Allworth Financial LP lifted its holdings in shares of Armstrong World Industries by 32.5% during the second quarter. Allworth Financial LP now owns 620 shares of the construction company’s stock valued at $101,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $189.74 on Friday. The firm’s 50 day moving average price is $192.89 and its 200-day moving average price is $180.59. The company has a quick ratio of 1.11, a current ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.18 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $206.08.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, November 6th. The construction company reported $1.36 EPS for the quarter. The business had revenue of $325.00 million during the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. Equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a dividend of $0.339 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, November 6th. Armstrong World Industries’s dividend payout ratio is presently 19.31%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AWI shares. Truist Financial lifted their price objective on Armstrong World Industries from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a research note on Wednesday, October 8th. UBS Group increased their price objective on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Vertical Research began coverage on shares of Armstrong World Industries in a report on Monday, October 20th. They issued a “buy” rating and a $238.00 target price on the stock. Finally, Bank of America boosted their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.50.

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.