State of New Jersey Common Pension Fund D Has $2.17 Million Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

State of New Jersey Common Pension Fund D lowered its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,478 shares of the construction company’s stock after selling 90 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Armstrong World Industries were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AWI. Jupiter Asset Management Ltd. acquired a new stake in shares of Armstrong World Industries during the first quarter worth $2,081,000. Assenagon Asset Management S.A. boosted its holdings in Armstrong World Industries by 107.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after purchasing an additional 33,290 shares during the period. Sei Investments Co. raised its position in shares of Armstrong World Industries by 185.3% in the first quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after buying an additional 33,927 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Armstrong World Industries in the first quarter valued at approximately $938,000. Finally, Redwood Investment Management LLC acquired a new stake in Armstrong World Industries during the first quarter worth approximately $1,501,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Down 0.3 %

Shares of AWI opened at $153.17 on Friday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.98 and a beta of 1.13. Armstrong World Industries, Inc. has a 52 week low of $81.47 and a 52 week high of $157.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock has a fifty day moving average of $136.78 and a 200-day moving average of $124.98.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the firm posted $1.60 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.308 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is 21.69%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AWI. Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Loop Capital raised their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and an average price target of $140.83.

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.