State Board of Administration of Florida Retirement System Grows Stake in Armstrong World Industries Inc (NYSE:AWI)

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State Board of Administration of Florida Retirement System increased its stake in Armstrong World Industries Inc (NYSE:AWI) by 24.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,018 shares of the construction company’s stock after acquiring an additional 12,202 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Armstrong World Industries worth $6,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AWI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Armstrong World Industries by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,796 shares of the construction company’s stock valued at $272,000 after buying an additional 237 shares during the period. California State Teachers Retirement System boosted its position in shares of Armstrong World Industries by 0.5% during the first quarter. California State Teachers Retirement System now owns 68,107 shares of the construction company’s stock valued at $5,409,000 after buying an additional 308 shares during the period. Ropes Wealth Advisors LLC purchased a new position in shares of Armstrong World Industries during the second quarter valued at approximately $49,000. Chase Investment Counsel Corp boosted its position in shares of Armstrong World Industries by 5.8% during the first quarter. Chase Investment Counsel Corp now owns 10,460 shares of the construction company’s stock valued at $830,000 after buying an additional 570 shares during the period. Finally, Quadrant Capital Group LLC purchased a new position in shares of Armstrong World Industries during the first quarter valued at approximately $52,000. Institutional investors own 98.43% of the company’s stock.

AWI has been the subject of several research analyst reports. KeyCorp lifted their price target on shares of Armstrong World Industries from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Bank of America lifted their price target on shares of Armstrong World Industries from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Zelman & Associates downgraded shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Deutsche Bank reaffirmed a “buy” rating and set a $107.00 price target on shares of Armstrong World Industries in a research note on Monday, June 24th. Finally, SunTrust Banks lifted their price target on shares of Armstrong World Industries to $109.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Armstrong World Industries presently has an average rating of “Hold” and a consensus target price of $91.45.

Armstrong World Industries stock opened at $94.38 on Thursday. The company has a 50 day moving average price of $96.41 and a 200-day moving average price of $87.51. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.07 and a current ratio of 1.20. Armstrong World Industries Inc has a fifty-two week low of $54.34 and a fifty-two week high of $104.50. The company has a market capitalization of $4.52 billion, a PE ratio of 25.79, a P/E/G ratio of 1.29 and a beta of 1.63.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, July 29th. The construction company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.10. The firm had revenue of $272.00 million during the quarter, compared to the consensus estimate of $278.75 million. Armstrong World Industries had a net margin of 20.17% and a return on equity of 77.10%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, analysts forecast that Armstrong World Industries Inc will post 4.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, August 7th. Armstrong World Industries’s dividend payout ratio (DPR) is 19.13%.

Armstrong World Industries Profile

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

See Also: Why Net Income is Important to Investors

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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