Adage Capital Partners GP L.L.C. Acquires 389,000 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Adage Capital Partners GP L.L.C. raised its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 140.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 666,000 shares of the construction company's stock after purchasing an additional 389,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.53% of Armstrong World Industries worth $94,126,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AWI. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries in the fourth quarter valued at approximately $32,000. Quent Capital LLC increased its position in shares of Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock worth $32,000 after acquiring an additional 170 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Armstrong World Industries during the fourth quarter worth $33,000. Twin Tree Management LP bought a new stake in shares of Armstrong World Industries during the fourth quarter worth $43,000. Finally, Farther Finance Advisors LLC increased its position in shares of Armstrong World Industries by 90.2% during the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock worth $60,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AWI shares. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Truist Financial raised their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $153.33.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock traded up $2.84 during trading on Tuesday, hitting $141.76. 203,477 shares of the stock were exchanged, compared to its average volume of 274,145. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a fifty day moving average price of $140.56 and a 200-day moving average price of $145.99. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. As a group, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, May 8th. Armstrong World Industries's payout ratio is 20.40%.

Armstrong World Industries Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.