Legal & General Group Plc Buys Shares of 98,663 Armstrong World Industries, Inc. $AWI

Legal & General Group Plc bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 98,663 shares of the construction company’s stock, valued at approximately $15,828,000.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in Armstrong World Industries by 77.0% in the fourth quarter. Larson Financial Group LLC now owns 131 shares of the construction company’s stock valued at $25,000 after acquiring an additional 57 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Armstrong World Industries during the 4th quarter worth $27,000. Cullen Frost Bankers Inc. increased its position in shares of Armstrong World Industries by 124.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 177 shares of the construction company’s stock worth $34,000 after purchasing an additional 98 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Armstrong World Industries by 426.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the construction company’s stock valued at $35,000 after purchasing an additional 145 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Armstrong World Industries in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $175.29 on Monday. The company has a market cap of $7.41 billion, a PE ratio of 24.01, a P/E/G ratio of 1.70 and a beta of 1.16. Armstrong World Industries, Inc. has a fifty-two week low of $150.28 and a fifty-two week high of $206.08. The firm has a 50-day simple moving average of $168.29 and a 200 day simple moving average of $168.57. The company has a quick ratio of 1.06, a current ratio of 1.52 and a debt-to-equity ratio of 0.58.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, July 28th. The construction company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Armstrong World Industries had a net margin of 18.60% and a return on equity of 37.35%. The firm had revenue of $472.00 million for the quarter, compared to analysts’ expectations of $461.67 million. During the same quarter last year, the company posted $2.09 earnings per share. Armstrong World Industries’s revenue was up 11.2% on a year-over-year basis. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. On average, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 8.39 EPS for the current year.

Armstrong World Industries announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 21st that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were given a dividend of $0.339 per share. The ex-dividend date was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Armstrong World Industries’s payout ratio is currently 18.63%.

Analyst Ratings Changes

A number of equities analysts recently commented on AWI shares. DA Davidson assumed coverage on Armstrong World Industries in a research note on Monday, August 24th. They issued a “buy” rating and a $215.00 price target for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $190.00 target price on shares of Armstrong World Industries in a research report on Wednesday, July 29th. Weiss Ratings lowered Armstrong World Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, UBS Group restated a “neutral” rating and set a $203.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $213.25.

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.