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

Texas Permanent School Fund Corp trimmed its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 16.8% in the second quarter, HoldingsChannel.com reports. 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 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised 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. increased its holdings in 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 period. Geode Capital Management LLC raised its position in shares of Armstrong World Industries by 0.8% in the 2nd 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. lifted its holdings in shares of Armstrong World Industries by 121.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company’s stock worth $119,718,000 after acquiring an additional 404,000 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Armstrong World Industries by 0.3% during the 2nd 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. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group boosted their price objective on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wall Street Zen lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, October 8th. Bank of America raised their price objective on Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Vertical Research started coverage on Armstrong World Industries in a research note on Monday, October 20th. They set a “buy” rating and a $238.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.50.

Armstrong World Industries Trading Up 0.2%

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

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. The business had revenue of $325.00 million during the quarter. Armstrong World Industries had a return on equity of 38.97% and a net margin of 19.08%. As a group, sell-side analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were given a dividend of $0.339 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.36 annualized dividend and a yield of 0.7%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s dividend payout ratio is 19.46%.

Armstrong World Industries Profile

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.