Cubist Systematic Strategies LLC Boosts Stock Position in Armstrong World Industries, Inc. $AWI

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Armstrong World Industries by 442.6% in Q1, acquiring an additional 88,368 shares to bring its total ownership to approximately 0.25% of the company.
• Armstrong World Industries reported a 16.3% increase in quarterly revenue, reaching $424.6 million, and exceeded earnings expectations with an EPS of $2.09.
• The company paid a quarterly dividend of $0.308 per share, representing an annualized yield of 0.6%, with a current dividend payout ratio of 18.20%.

Cubist Systematic Strategies LLC lifted its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 442.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,333 shares of the construction company's stock after purchasing an additional 88,368 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.25% of Armstrong World Industries worth $15,262,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AWI. Golden State Wealth Management LLC raised its stake in shares of 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 worth $39,000 after purchasing an additional 140 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Armstrong World Industries by 652.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after acquiring an additional 287 shares in the last quarter. Versant Capital Management Inc purchased a new position in Armstrong World Industries in the first quarter worth $54,000. Covestor Ltd raised its position in Armstrong World Industries by 40.5% in the first quarter. Covestor Ltd now owns 590 shares of the construction company's stock worth $83,000 after acquiring an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Armstrong World Industries in the first quarter worth $91,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AWI. Bank of America increased their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. began coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective for the company. UBS Group reiterated a "neutral" rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. Truist Financial set a $195.00 price objective on Armstrong World Industries and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut Armstrong World Industries from a "buy" rating to a "hold" rating in a research 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. According to MarketBeat.com, Armstrong World Industries has an average rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Price Performance

Shares of AWI stock traded up $1.06 during mid-day trading on Friday, reaching $198.23. The stock had a trading volume of 299,215 shares, compared to its average volume of 346,007. Armstrong World Industries, Inc. has a 12-month low of $118.14 and a 12-month high of $199.73. The company has a market cap of $8.58 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 2.17 and a beta of 1.46. The business has a 50-day simple moving average of $182.09 and a 200 day simple moving average of $159.14. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. During the same quarter last year, the business posted $1.62 earnings per share. The business's revenue for the quarter was up 16.3% on a year-over-year basis. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, sell-side analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed 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. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, August 7th. Armstrong World Industries's dividend payout ratio (DPR) is currently 18.20%.

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.