The Manufacturers Life Insurance Company Purchases New Shares in Armstrong World Industries, Inc. $AWI

The Manufacturers Life Insurance Company acquired a new stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) during the second quarter, HoldingsChannel reports. The fund acquired 12,637 shares of the construction company’s stock, valued at approximately $2,027,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Armstrong World Industries by 5.2% during the 1st quarter. Bank of America Corp DE now owns 457,619 shares of the construction company’s stock valued at $75,416,000 after purchasing an additional 22,477 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Armstrong World Industries by 88.4% during the second quarter. Assenagon Asset Management S.A. now owns 136,597 shares of the construction company’s stock valued at $21,913,000 after buying an additional 64,077 shares during the period. Danske Bank A S bought a new position in Armstrong World Industries in the second quarter worth about $531,000. Bessemer Group Inc. raised its stake in Armstrong World Industries by 28.3% in the first quarter. Bessemer Group Inc. now owns 46,058 shares of the construction company’s stock worth $7,591,000 after buying an additional 10,165 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Armstrong World Industries by 33,007.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 473,104 shares of the construction company’s stock worth $90,410,000 after buying an additional 471,675 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Up 0.3%

Shares of Armstrong World Industries stock opened at $169.42 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.52 and a quick ratio of 1.06. The company has a 50-day moving average of $169.14 and a 200 day moving average of $167.94. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.64 and a beta of 1.17. Armstrong World Industries, Inc. has a 1 year low of $150.28 and a 1 year high of $206.08.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, July 28th. The construction company reported $2.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $472.00 million during the quarter, compared to analysts’ expectations of $461.67 million. During the same period last year, the company posted $2.09 EPS. 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. As a group, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 8.39 earnings per share for the current fiscal year.

Armstrong World Industries announced that its board has authorized a stock repurchase 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 reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a dividend of $0.339 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 5th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $203.00 price objective on shares of Armstrong World Industries in a research report on Wednesday, July 29th. Jefferies Financial Group reissued 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 cut Armstrong World Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Finally, DA Davidson restated a “buy” rating and set a $215.00 price target on shares of Armstrong World Industries in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.