Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. trimmed its position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 74.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,979 shares of the construction company's stock after selling 61,298 shares during the period. Balyasny Asset Management L.P.'s holdings in Armstrong World Industries were worth $2,965,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Armstrong World Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after purchasing an additional 34,579 shares during the last quarter. Geode Capital Management LLC grew its stake in Armstrong World Industries by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after acquiring an additional 35,738 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake 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 worth $94,126,000 after acquiring an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Armstrong World Industries by 267.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after acquiring an additional 387,537 shares in the last quarter. Finally, Madison Investment Advisors LLC bought a new position in Armstrong World Industries in the 4th quarter worth about $75,242,000. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America upped their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group upped their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Truist Financial upped their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, StockNews.com downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Armstrong World Industries currently has an average rating of "Hold" and an average price target of $157.57.

Armstrong World Industries Stock Up 0.8%

Shares of NYSE AWI traded up $1.23 during midday trading on Friday, reaching $160.16. 213,620 shares of the company's stock traded hands, compared to its average volume of 275,824. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock's 50 day simple moving average is $141.38 and its 200-day simple moving average is $147.20. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 1.60 and a beta of 1.36.

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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $370.71 million. During the same period last year, the firm earned $1.38 earnings per share. The company's quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a $0.308 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.77%. Armstrong World Industries's dividend payout ratio (DPR) is 19.68%.

About Armstrong World Industries

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.