Armstrong World Industries, Inc. (NYSE:AWI) Stake Raised by Woodline Partners LP

Woodline Partners LP increased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 201.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,584 shares of the construction company's stock after buying an additional 33,133 shares during the quarter. Woodline Partners LP owned about 0.11% of Armstrong World Industries worth $7,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Armstrong World Industries by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after purchasing an additional 34,579 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Armstrong World Industries by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock valued at $125,444,000 after purchasing an additional 35,738 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings 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 valued at $94,126,000 after purchasing an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Armstrong World Industries by 267.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock valued at $75,273,000 after purchasing an additional 387,537 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in Armstrong World Industries in the 4th quarter valued at approximately $75,242,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Down 0.4%

Shares of Armstrong World Industries stock traded down $0.58 during trading hours on Thursday, hitting $154.91. 32,149 shares of the company's stock traded hands, compared to its average volume of 274,877. The stock has a 50 day simple moving average of $143.95 and a 200-day simple moving average of $147.71. 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 company has a market cap of $6.73 billion, a PE ratio of 27.31, a PEG ratio of 1.60 and a beta of 1.36. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40.

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

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries's dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target 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. Bank of America lifted their price target 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. Truist Financial boosted their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $157.57.

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.