Balyasny Asset Management L.P. Trims Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Balyasny Asset Management L.P. lessened its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 74.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,979 shares of the construction company's stock after selling 61,298 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Armstrong World Industries were worth $2,965,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AWI. Madison Investment Advisors LLC bought a new position in Armstrong World Industries in the 4th quarter worth about $75,242,000. Norges Bank purchased a new stake in Armstrong World Industries in the 4th quarter worth approximately $71,822,000. Adage Capital Partners GP L.L.C. boosted its holdings in Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock valued at $94,126,000 after purchasing an additional 389,000 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Armstrong World Industries by 267.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after purchasing an additional 387,537 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Armstrong World Industries by 25.4% in the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after purchasing an additional 102,895 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

AWI has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted 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. Bank of America upped their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday. Loop Capital cut their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. UBS Group boosted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, Truist Financial lifted their price target on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Armstrong World Industries presently has an average rating of "Hold" and a consensus price target of $157.57.

Armstrong World Industries Stock Up 0.9%

NYSE:AWI traded up $1.36 on Thursday, reaching $158.69. 223,666 shares of the stock traded hands, compared to its average volume of 276,897. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.60 and a beta of 1.36. The company's fifty day simple moving average is $140.71 and its 200 day simple moving average is $146.87. 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 announced its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. During the same period in the previous year, the business posted $1.38 earnings per share. The business's revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries's 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.