Legal & General Group Plc Makes New Investment in Armstrong World Industries, Inc. $AWI

Legal & General Group Plc acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 98,663 shares of the construction company’s stock, valued at approximately $15,828,000. Legal & General Group Plc owned approximately 0.23% of Armstrong World Industries at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Armstrong World Industries during the 2nd quarter worth about $2,027,000. Sanctuary Advisors LLC acquired a new position in Armstrong World Industries during the second quarter valued at approximately $319,000. Bank of Nova Scotia acquired a new position in Armstrong World Industries during the second quarter valued at approximately $19,272,000. Elevation Point Wealth Partners LLC purchased a new stake in Armstrong World Industries during the second quarter worth approximately $461,000. Finally, Commerce Bank purchased a new stake in Armstrong World Industries during the second quarter worth approximately $645,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AWI shares. Jefferies Financial Group reissued a “hold” rating and issued a $190.00 target price on shares of Armstrong World Industries in a research note on Wednesday, July 29th. DA Davidson began coverage on shares of Armstrong World Industries in a research report on Monday, August 24th. They set a “buy” rating and a $215.00 price target for the company. Weiss Ratings downgraded Armstrong World Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Finally, UBS Group reissued a “neutral” rating and issued a $203.00 price objective on shares of Armstrong World Industries in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.25.

Armstrong World Industries Stock Up 0.1%

Shares of NYSE:AWI opened at $175.29 on Monday. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The company has a 50 day moving average of $168.29 and a two-hundred day moving average of $168.57. Armstrong World Industries, Inc. has a 52-week low of $150.28 and a 52-week high of $206.08. The company has a quick ratio of 1.06, a current ratio of 1.52 and a debt-to-equity ratio of 0.58.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, July 28th. The construction company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. The business had revenue of $472.00 million for the quarter, compared to analysts’ expectations of $461.67 million. Armstrong World Industries had a net margin of 18.60% and a return on equity of 37.35%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. Armstrong World Industries has set its FY 2026 guidance at 8.300-8.500 EPS. As a group, analysts forecast that Armstrong World Industries, Inc. will post 8.39 earnings per share for the current fiscal year.

Armstrong World Industries announced that its Board of Directors has initiated a share buyback program on Tuesday, July 21st that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were given a $0.339 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 5th. Armstrong World Industries’s dividend payout ratio is presently 18.63%.

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.