Magnetar Financial LLC Takes $9.85 Million Position in Armstrong World Industries, Inc. $AWI

Key Points

• Magnetar Financial LLC acquired a position in Armstrong World Industries, Inc. worth approximately $9.85 million, holding about 0.16% of the company's stock as of the latest reporting period.
• Several hedge funds increased their investments in Armstrong World Industries, including Alyeska Investment Group which raised its stake by 267.1% and GAMMA Investing LLC which increased theirs by an astonishing 15,282.7%.
• Analyst ratings for the company are generally positive, with an average target price of $177.13 and several analysts issuing Buy ratings.

Magnetar Financial LLC bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,940 shares of the construction company's stock, valued at approximately $9,853,000. Magnetar Financial LLC owned approximately 0.16% of Armstrong World Industries at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Armstrong World Industries by 0.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company's stock worth $188,615,000 after acquiring an additional 8,762 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Armstrong World Industries by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,282,996 shares of the construction company's stock worth $180,748,000 after purchasing an additional 84,195 shares during the last quarter. Invesco Ltd. lifted its position in shares of Armstrong World Industries by 34.0% during the 1st quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock worth $95,886,000 after purchasing an additional 172,779 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Armstrong World Industries by 267.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after purchasing an additional 387,537 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Armstrong World Industries by 23.4% during the 4th quarter. Northern Trust Corp now owns 289,289 shares of the construction company's stock worth $40,885,000 after purchasing an additional 54,923 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AWI shares. Loop Capital set a $190.00 price objective on Armstrong World Industries and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Evercore ISI upped their price target on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and issued a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Bank of America upped their price target on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen cut Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Armstrong World Industries has a consensus rating of "Moderate Buy" and a consensus target price of $177.13.

Armstrong World Industries Trading Down 0.4%

AWI traded down $0.79 during mid-day trading on Wednesday, reaching $193.98. The stock had a trading volume of 56,745 shares, compared to its average volume of 323,616. The stock has a market capitalization of $8.39 billion, a P/E ratio of 28.69, a P/E/G ratio of 2.15 and a beta of 1.46. 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 simple moving average is $179.95 and its two-hundred day simple moving average is $158.29. Armstrong World Industries, Inc. has a 52 week low of $118.14 and a 52 week high of $198.64.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted 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. The company had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The firm's quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries's dividend payout ratio (DPR) 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.