PNC Financial Services Group Inc. Sells 435 Shares of Armstrong World Industries, Inc. $AWI

PNC Financial Services Group Inc. lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,062 shares of the construction company’s stock after selling 435 shares during the period. PNC Financial Services Group Inc.’s holdings in Armstrong World Industries were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AWI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Armstrong World Industries by 131.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 440,519 shares of the construction company’s stock valued at $62,060,000 after purchasing an additional 250,133 shares in the last quarter. Invesco Ltd. raised its holdings in Armstrong World Industries by 34.0% in the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company’s stock worth $95,886,000 after purchasing an additional 172,779 shares in the last quarter. Nuveen LLC purchased a new position in Armstrong World Industries during the first quarter valued at $23,449,000. Global Alpha Capital Management Ltd. bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $21,301,000. Finally, AQR Capital Management LLC grew its position in shares of Armstrong World Industries by 91.7% in the 1st quarter. AQR Capital Management LLC now owns 248,363 shares of the construction company’s stock worth $34,296,000 after buying an additional 118,830 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 1.4%

NYSE:AWI opened at $182.97 on Friday. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.87 and a beta of 1.41. 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 company’s 50 day moving average price is $193.54 and its 200-day moving average price is $179.28. Armstrong World Industries, Inc. has a 52 week low of $122.37 and a 52 week high of $206.08.

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

Armstrong World Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. UBS Group lifted their target price on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, October 8th. Bank of America raised their price objective on Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Truist Financial lifted their price objective on Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Armstrong World Industries has a consensus rating of “Moderate Buy” and an average target price 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.