Principal Financial Group Inc. Has $27.10 Million Position in Armstrong World Industries, Inc. (NYSE:AWI)

Principal Financial Group Inc. cut its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,176 shares of the construction company’s stock after selling 8,798 shares during the period. Principal Financial Group Inc. owned about 0.47% of Armstrong World Industries worth $27,098,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its position in shares of Armstrong World Industries by 4.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock worth $245,000 after buying an additional 76 shares during the last quarter. Blue Trust Inc. raised its stake in Armstrong World Industries by 5.9% during the third quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock worth $188,000 after acquiring an additional 79 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Armstrong World Industries by 13.9% in the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock worth $88,000 after acquiring an additional 82 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Armstrong World Industries by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Armstrong World Industries by 3.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,033 shares of the construction company’s stock valued at $399,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $144.72 on Wednesday. The stock has a market capitalization of $6.31 billion, a PE ratio of 25.52, a PEG ratio of 2.01 and a beta of 1.15. The business’s 50 day simple moving average is $150.15 and its 200 day simple moving average is $132.76. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries, Inc. has a one year low of $95.24 and a one year high of $164.40.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 earnings per share. As a group, research analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.308 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a yield of 0.85%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AWI shares. Evercore ISI increased their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. UBS Group upped their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial upped their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Loop Capital lifted their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries currently has a consensus 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.