Texas Permanent School Fund Corp Has $2.93 Million Stock Holdings in Armstrong World Industries, Inc. $AWI

Texas Permanent School Fund Corp lowered its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 16.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,028 shares of the construction company’s stock after selling 3,630 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Armstrong World Industries were worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in Armstrong World Industries by 0.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company’s stock valued at $188,615,000 after purchasing an additional 8,762 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Armstrong World Industries by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,321,078 shares of the construction company’s stock valued at $214,596,000 after buying an additional 38,082 shares during the last quarter. Geode Capital Management LLC grew its stake 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 valued at $153,248,000 after buying an additional 7,378 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Armstrong World Industries by 121.3% during 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 during the last quarter. Finally, Invesco Ltd. raised its position in Armstrong World Industries by 0.3% during the second quarter. Invesco Ltd. now owns 682,445 shares of the construction company’s stock worth $110,856,000 after acquiring an additional 1,823 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Vertical Research assumed coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They issued a “buy” rating and a $238.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Armstrong World Industries from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Bank of America boosted their price target on Armstrong World Industries from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Truist Financial lifted their target price on Armstrong World Industries from $195.00 to $230.00 and gave the stock 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.50.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $186.32 on Friday. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.83 and a beta of 1.30. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. Armstrong World Industries, Inc. has a 12 month low of $122.37 and a 12 month high of $206.08. The stock’s 50 day moving average is $189.92 and its 200-day moving average is $183.60.

Armstrong World Industries (NYSE:AWI) last released 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 return on equity of 38.97% and a net margin of 19.08%.The business had revenue of $325.00 million during the quarter. Equities research analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were paid a $0.339 dividend. 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 was Thursday, November 6th. Armstrong World Industries’s dividend payout ratio is currently 19.46%.

About Armstrong World Industries

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.