VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 9,600 Armstrong World Industries, Inc. $AWI

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,600 shares of the construction company’s stock, valued at approximately $1,882,000.

Other large investors also recently modified their holdings of the company. Burgundy Asset Management Ltd. increased its holdings in Armstrong World Industries by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,321,078 shares of the construction company’s stock worth $214,596,000 after acquiring an additional 38,082 shares during the period. Geode Capital Management LLC increased its holdings in shares of Armstrong World Industries by 0.8% in the second quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company’s stock worth $153,248,000 after purchasing an additional 7,378 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Armstrong World Industries by 121.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company’s stock worth $119,718,000 after buying an additional 404,000 shares in the last quarter. Invesco Ltd. boosted its stake in Armstrong World Industries by 0.3% during the second quarter. Invesco Ltd. now owns 682,445 shares of the construction company’s stock valued at $110,856,000 after buying an additional 1,823 shares during the period. Finally, AQR Capital Management LLC increased its stake in Armstrong World Industries by 118.6% in the 2nd quarter. AQR Capital Management LLC now owns 543,009 shares of the construction company’s stock worth $88,206,000 after acquiring an additional 294,646 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial lifted their price target on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Vertical Research assumed coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They set a “buy” rating and a $238.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Armstrong World Industries in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, UBS Group upped their target price on shares of Armstrong World Industries from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.50.

Armstrong World Industries Trading Up 2.8%

Shares of AWI opened at $196.45 on Friday. Armstrong World Industries, Inc. has a fifty-two week low of $122.37 and a fifty-two week high of $206.08. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.66 and a beta of 1.32. The firm has a 50 day moving average price of $188.15 and a 200-day moving average price of $186.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.04 and a current ratio of 1.52.

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

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a dividend of $0.339 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.36 annualized dividend and a yield of 0.7%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s dividend payout ratio (DPR) is currently 19.46%.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.

Armstrong’s product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.