Maryland State Retirement & Pension System Cuts Stock Holdings in Armstrong World Industries, Inc. $AWI

Maryland State Retirement & Pension System lowered its position in Armstrong World Industries, Inc. (NYSE:AWI) by 44.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,249 shares of the construction company’s stock after selling 6,544 shares during the period. Maryland State Retirement & Pension System’s holdings in Armstrong World Industries were worth $1,617,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AWI. Burgundy Asset Management Ltd. increased its stake 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Armstrong World Industries by 0.8% in the second quarter. Geode Capital Management LLC now owns 943,284 shares of the construction company’s stock valued at $153,248,000 after acquiring an additional 7,378 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Armstrong World Industries by 121.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 737,000 shares of the construction company’s stock valued at $119,718,000 after acquiring an additional 404,000 shares during the last quarter. Invesco Ltd. increased its position in shares of Armstrong World Industries by 0.3% during the second quarter. Invesco Ltd. now owns 682,445 shares of the construction company’s stock valued at $110,856,000 after acquiring an additional 1,823 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Armstrong World Industries by 118.6% during the second quarter. AQR Capital Management LLC now owns 543,009 shares of the construction company’s stock worth $88,206,000 after acquiring an additional 294,646 shares during the period. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AWI. UBS Group raised their target price on Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Zacks Research lowered shares of Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Vertical Research began coverage on shares of Armstrong World Industries in a research note on Monday, October 20th. They set a “buy” rating and a $238.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $207.50.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $187.87 on Wednesday. The firm has a market capitalization of $8.10 billion, a PE ratio of 26.88, a P/E/G ratio of 1.71 and a beta of 1.32. 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 company has a 50-day moving average price of $189.26 and a two-hundred day moving average price of $189.70. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $206.08.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 28th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. The company had revenue of $425.20 million for the quarter, compared to analyst estimates of $423.40 million. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.450-7.550 EPS. Equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

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.