Point72 Hong Kong Ltd Purchases 1,659 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Point72 Hong Kong Ltd increased its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 128.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,948 shares of the construction company's stock after purchasing an additional 1,659 shares during the period. Point72 Hong Kong Ltd's holdings in Armstrong World Industries were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in shares of Armstrong World Industries by 11.1% during the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock worth $389,000 after buying an additional 274 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Armstrong World Industries by 8.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock worth $874,000 after acquiring an additional 456 shares during the last quarter. Blue Trust Inc. grew its position in Armstrong World Industries by 11.4% during the 4th quarter. Blue Trust Inc. now owns 1,591 shares of the construction company's stock worth $209,000 after acquiring an additional 163 shares during the last quarter. SG Americas Securities LLC grew its position in Armstrong World Industries by 639.8% during the 4th quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company's stock worth $1,022,000 after acquiring an additional 6,251 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Armstrong World Industries by 7.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company's stock worth $1,069,000 after acquiring an additional 555 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AWI shares. UBS Group upped their price target on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Bank of America upped their price target on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group increased their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial increased their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $157.57.

Armstrong World Industries Price Performance

AWI stock traded down $0.78 during mid-day trading on Thursday, hitting $155.06. 39,912 shares of the stock were exchanged, compared to its average volume of 275,624. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The business has a fifty day moving average price of $142.56 and a 200 day moving average price of $147.53. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 1.60 and a beta of 1.36.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company's revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a $0.308 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.79%. Armstrong World Industries's dividend payout ratio is currently 19.68%.

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.