Point72 Asset Management L.P. Purchases New Position in Armstrong World Industries, Inc. (NYSE:AWI)

Point72 Asset Management L.P. purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,281 shares of the construction company's stock, valued at approximately $2,301,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quent Capital LLC lifted its holdings in shares of Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company's stock valued at $32,000 after purchasing an additional 170 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at about $43,000. Farther Finance Advisors LLC lifted its holdings in shares of Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after purchasing an additional 202 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Armstrong World Industries by 196.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company's stock valued at $80,000 after purchasing an additional 376 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $114,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Trading Down 0.5%

Shares of AWI stock traded down $0.79 on Friday, reaching $154.40. 175,885 shares of the stock were exchanged, compared to its average volume of 275,741. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.71 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The firm has a 50 day moving average of $142.84 and a two-hundred day moving average of $147.62. Armstrong World Industries, Inc. has a 1-year low of $110.68 and a 1-year high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. The company had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm's revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, research analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.308 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.23 annualized dividend and a yield of 0.80%. Armstrong World Industries's payout ratio is 19.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group boosted their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Truist Financial boosted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Loop Capital cut their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $157.57.

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.