Gates Capital Management Inc. Has $78.83 Million Holdings in Armstrong World Industries, Inc. $AWI

Key Points

• Gates Capital Management Inc. reduced its stake in Armstrong World Industries by 9.1%, now holding 559,576 shares worth approximately $78.83 million, representing 1.5% of its total holdings.
• Armstrong World Industries reported earnings of $2.09 per share, exceeding expectations, with revenue of $424.60 million for the quarter, showing a year-over-year increase of 16.3%.
• The stock has a current average rating of "Moderate Buy" from analysts, with a consensus price target of **$177.13** and several upgraded target prices, including a high of $200.00 from JPMorgan Chase & Co.

Gates Capital Management Inc. reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 559,576 shares of the construction company's stock after selling 55,869 shares during the quarter. Armstrong World Industries accounts for approximately 1.5% of Gates Capital Management Inc.'s holdings, making the stock its 21st biggest position. Gates Capital Management Inc. owned 1.29% of Armstrong World Industries worth $78,833,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AWI. Golden State Wealth Management LLC raised its stake in Armstrong World Industries by 100.0% during the 1st 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 during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Armstrong World Industries by 652.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock valued at $47,000 after buying an additional 287 shares during the period. Versant Capital Management Inc bought a new stake in Armstrong World Industries in the 1st quarter valued at $54,000. Covestor Ltd increased its holdings in Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock valued at $83,000 after buying an additional 170 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Armstrong World Industries in the 1st quarter valued at $91,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

Shares of AWI traded down $0.40 during trading hours on Wednesday, hitting $194.37. The stock had a trading volume of 262,863 shares, compared to its average volume of 348,733. The company's fifty day moving average is $179.95 and its two-hundred day moving average is $158.29. 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 52 week low of $118.14 and a 52 week high of $198.64. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 2.15 and a beta of 1.46.

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 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 analyst estimates of $404.05 million. During the same quarter in the prior year, the firm earned $1.62 EPS. The company's revenue 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, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. Armstrong World Industries's dividend payout ratio is currently 18.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America boosted their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wall Street Zen lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Truist Financial set a $195.00 price target on shares of Armstrong World Industries and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, UBS Group reaffirmed 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. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries 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.