Armstrong World Industries (NYSE:AWI) Issues Quarterly Earnings Results

Armstrong World Industries (NYSE:AWIGet Rating) issued its quarterly earnings results on Tuesday. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.09), Briefing.com reports. Armstrong World Industries had a return on equity of 41.11% and a net margin of 16.07%. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $317.19 million. During the same period last year, the firm earned $1.16 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. Armstrong World Industries updated its FY22 guidance to $5.10-$5.20 EPS.

Armstrong World Industries Stock Up 1.7 %

Shares of AWI stock traded up $1.46 during midday trading on Thursday, reaching $87.01. 3,955 shares of the stock were exchanged, compared to its average volume of 282,988. Armstrong World Industries has a 1 year low of $73.25 and a 1 year high of $118.14. The company’s 50 day moving average is $80.05 and its two-hundred day moving average is $88.56. The company has a current ratio of 1.66, a quick ratio of 1.11 and a debt-to-equity ratio of 1.25. The firm has a market cap of $4.09 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.19.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th will be given a dividend of $0.231 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, August 3rd. Armstrong World Industries’s payout ratio is 23.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AWI. Prudential Financial Inc. grew its holdings in shares of Armstrong World Industries by 3,174.5% during the 1st quarter. Prudential Financial Inc. now owns 293,425 shares of the construction company’s stock worth $26,411,000 after acquiring an additional 284,464 shares during the period. First Trust Advisors LP grew its stake in shares of Armstrong World Industries by 152.7% in the 1st quarter. First Trust Advisors LP now owns 178,207 shares of the construction company’s stock worth $16,040,000 after buying an additional 107,682 shares during the last quarter. Capital World Investors grew its stake in shares of Armstrong World Industries by 8.3% in the 1st quarter. Capital World Investors now owns 1,100,350 shares of the construction company’s stock worth $99,043,000 after buying an additional 84,500 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Armstrong World Industries by 8.6% in the 1st quarter. Wellington Management Group LLP now owns 338,446 shares of the construction company’s stock worth $30,464,000 after buying an additional 26,727 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Armstrong World Industries by 3.4% in the 1st quarter. State Street Corp now owns 705,019 shares of the construction company’s stock worth $63,459,000 after buying an additional 23,434 shares during the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Wall Street Analyst Weigh In

AWI has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on Armstrong World Industries in a research note on Tuesday, April 5th. They set an “outperform” rating and a $120.00 price target for the company. Loop Capital raised Armstrong World Industries from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Wednesday, June 15th. They noted that the move was a valuation call. Truist Financial lowered their target price on Armstrong World Industries from $124.00 to $110.00 in a research note on Wednesday, April 27th. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Finally, The Goldman Sachs Group raised Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.44.

Armstrong World Industries Company Profile

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Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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Earnings History for Armstrong World Industries (NYSE:AWI)

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