Adage Capital Partners GP L.L.C. Lowers Stock Position in Armstrong World Industries, Inc. $AWI

Key Points

• Adage Capital Partners GP L.L.C. has halved its stake in Armstrong World Industries by selling 333,000 shares, leaving it with a total ownership of 0.77% valued at approximately $46.9 million.
• Analysts have set new price targets for Armstrong World Industries, with Bank of America raising its target to $170.00, and JPMorgan Chase & Co. starting coverage with a target of $200.00, indicating a positive outlook for the stock.
• Armstrong World Industries reported $2.09 earnings per share for the last quarter, which exceeded expectations, and has set its FY 2025 guidance between $7.150 and $7.300 EPS.

Adage Capital Partners GP L.L.C. lowered its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 50.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 333,000 shares of the construction company's stock after selling 333,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.77% of Armstrong World Industries worth $46,913,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Armstrong World Industries in the first quarter worth $2,508,000. Versor Investments LP bought a new position in Armstrong World Industries in the first quarter worth $596,000. Wealth Enhancement Advisory Services LLC increased its position in Armstrong World Industries by 113.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after buying an additional 2,538 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Armstrong World Industries by 194.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock valued at $683,000 after buying an additional 3,200 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Armstrong World Industries during the 4th quarter valued at approximately $2,326,000. Institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AWI shares. Evercore ISI raised their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective for the company. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the company a "hold" rating in a research report on Wednesday, July 30th. UBS Group reissued a "neutral" rating and issued a $178.00 target price (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Finally, Bank of America lifted their target price on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.

Armstrong World Industries Stock Performance

NYSE AWI traded down $3.22 during trading hours on Tuesday, hitting $193.78. The company's stock had a trading volume of 102,182 shares, compared to its average volume of 325,255. Armstrong World Industries, Inc. has a 12 month low of $118.14 and a 12 month high of $199.73. The company's 50 day simple moving average is $182.78 and its two-hundred day simple moving average is $159.61. The company has a market cap of $8.38 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The company had revenue of $424.60 million during the quarter, compared to analyst estimates of $404.05 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. Armstrong World Industries's revenue was up 16.3% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, sell-side analysts expect 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 was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.308 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.23 annualized dividend and a yield of 0.6%. Armstrong World Industries's payout ratio is 18.20%.

Armstrong World Industries Company 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.