Alyeska Investment Group L.P. Acquires 50,398 Shares of Armstrong World Industries, Inc. $AWI

Key Points

• Alyeska Investment Group L.P. increased its stake in Armstrong World Industries by 9.5%, owning approximately 1.34% of the company, with a stake valued at $82.13 million.
• Analysts have a consensus rating of "Moderate Buy" for Armstrong World Industries, with an average price target of $177.13, reflecting positive sentiment on the stock.
• The company reported a 16.3% year-over-year revenue increase in its latest quarter, posting earnings per share of $2.09, which surpassed analysts' expectations by $0.34.

Alyeska Investment Group L.P. lifted its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 9.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 583,000 shares of the construction company's stock after purchasing an additional 50,398 shares during the period. Alyeska Investment Group L.P. owned 1.34% of Armstrong World Industries worth $82,133,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in Armstrong World Industries by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after purchasing an additional 140 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after buying an additional 287 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Armstrong World Industries during the first quarter worth $54,000. Covestor Ltd raised its position in shares of Armstrong World Industries by 40.5% during the first quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after acquiring an additional 170 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Armstrong World Industries during the first quarter worth $91,000. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AWI. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Loop Capital set a $190.00 target price on Armstrong World Industries and gave the stock a "hold" rating in a report on Wednesday, July 30th. Evercore ISI lifted their price target on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. Truist Financial set a $195.00 price target on Armstrong World Industries and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Price Performance

NYSE AWI traded down $0.17 during trading hours on Monday, reaching $198.27. 124,625 shares of the stock traded hands, compared to its average volume of 323,611. The stock has a 50 day simple moving average of $182.09 and a two-hundred day simple moving average of $159.25. 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, Inc. has a 1 year low of $118.14 and a 1 year high of $199.73. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm had revenue of $424.60 million for the quarter, compared to analysts' expectations of $404.05 million. During the same quarter in the previous year, the company earned $1.62 earnings per share. The company's revenue for the quarter 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. 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 was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 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.