Entropy Technologies LP Takes Position in Armstrong World Industries, Inc. (NYSE:AWI)

Key Points

• Entropy Technologies LP has acquired a new stake in Armstrong World Industries, purchasing 7,279 shares valued at approximately $1,025,000 during the first quarter.
• Armstrong World Industries reported $2.09 EPS for the quarter, exceeding analysts' estimates by $0.34, with a quarterly revenue increase of 16.3% year-over-year.
• The company announced a quarterly dividend of $0.308, set to be paid to shareholders on August 21st, with a dividend yield of 0.6%.

Entropy Technologies LP acquired a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,279 shares of the construction company's stock, valued at approximately $1,025,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burgundy Asset Management Ltd. raised its holdings in shares of Armstrong World Industries by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after acquiring an additional 19,787 shares during the period. Invesco Ltd. boosted its holdings in Armstrong World Industries by 34.0% during the first quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock valued at $95,886,000 after acquiring an additional 172,779 shares during the period. Adage Capital Partners GP L.L.C. grew its position 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 purchasing an additional 389,000 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Armstrong World Industries by 267.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after buying an additional 387,537 shares in the last quarter. Finally, Northern Trust Corp grew its position in Armstrong World Industries by 23.4% in the fourth quarter. Northern Trust Corp now owns 289,289 shares of the construction company's stock valued at $40,885,000 after acquiring an additional 54,923 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AWI has been the topic of several research analyst reports. Bank of America raised their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target for the company. Loop Capital set a $190.00 price objective on shares of Armstrong World Industries and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI raised their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries currently has an average rating of "Moderate Buy" and an average price target of $177.13.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded down $1.12 during midday trading on Friday, hitting $193.04. 226,577 shares of the company traded hands, compared to its average volume of 323,607. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.16 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The firm's fifty day moving average price is $169.00 and its 200-day moving average price is $154.28. Armstrong World Industries, Inc. has a 12 month low of $118.14 and a 12 month high of $197.04.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. The business had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $1.62 EPS. As a group, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 7th. Armstrong World Industries's payout ratio is presently 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.