Gates Capital Management Inc. Decreases Holdings in Armstrong World Industries, Inc. (NYSE:AWI)

Gates Capital Management Inc. lowered its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 615,445 shares of the construction company's stock after selling 65,000 shares during the quarter. Armstrong World Industries accounts for approximately 1.6% of Gates Capital Management Inc.'s investment portfolio, making the stock its 22nd largest position. Gates Capital Management Inc. owned approximately 1.41% of Armstrong World Industries worth $86,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tealwood Asset Management Inc. grew its position in shares of Armstrong World Industries by 0.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company's stock worth $1,313,000 after buying an additional 71 shares during the period. Arizona State Retirement System grew its position in shares of Armstrong World Industries by 0.7% during the 4th quarter. Arizona State Retirement System now owns 12,683 shares of the construction company's stock worth $1,792,000 after buying an additional 82 shares during the period. Blue Trust Inc. grew its position in shares of Armstrong World Industries by 6.7% during the 4th quarter. Blue Trust Inc. now owns 1,523 shares of the construction company's stock worth $215,000 after buying an additional 95 shares during the period. Sanctuary Advisors LLC grew its position in shares of Armstrong World Industries by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company's stock worth $865,000 after buying an additional 97 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Armstrong World Industries by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,106 shares of the construction company's stock valued at $2,700,000 after buying an additional 120 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Stock Up 0.6%

AWI traded up $0.96 during mid-day trading on Thursday, reaching $158.29. 4,882 shares of the stock were exchanged, compared to its average volume of 276,033. Armstrong World Industries, Inc. has a 1 year low of $110.68 and a 1 year high of $164.40. The company has a 50 day moving average price of $140.71 and a two-hundred day moving average price of $146.87. The stock has a market capitalization of $6.87 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share 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 company had revenue of $382.70 million for the quarter, compared to the consensus estimate of $370.71 million. During the same period in the previous year, the firm earned $1.38 EPS. The firm's quarterly revenue was up 17.3% on a year-over-year basis. As a group, research 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 announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.23 annualized dividend and a dividend yield of 0.78%. Armstrong World Industries's dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

AWI has been the subject of several research reports. Truist Financial raised their target price on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. 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. Loop Capital reduced their price target 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. UBS Group lifted their price target 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. Finally, StockNews.com downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $155.50.

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.