Armstrong World Industries, Inc. (NYSE:AWI) Shares Sold by Gates Capital Management Inc.

Gates Capital Management Inc. cut its position in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 615,445 shares of the construction company's stock after selling 65,000 shares during the period. Armstrong World Industries makes up 1.6% of Gates Capital Management Inc.'s holdings, 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.

Other institutional investors have also recently modified their holdings of the company. Madison Investment Advisors LLC purchased a new stake in Armstrong World Industries in the fourth quarter valued at $75,242,000. Norges Bank acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $71,822,000. Adage Capital Partners GP L.L.C. boosted its position 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 worth $94,126,000 after purchasing an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings 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 valued at $75,273,000 after purchasing an additional 387,537 shares in the last quarter. Finally, Invesco Ltd. grew its position in Armstrong World Industries by 25.4% during the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock valued at $71,773,000 after buying an additional 102,895 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Trading Up 0.5%

Shares of AWI traded up $0.77 during trading on Tuesday, reaching $157.20. 5,336 shares of the company traded hands, compared to its average volume of 275,429. 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 $6.83 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The stock has a 50-day simple moving average of $140.38 and a 200-day simple moving average of $146.72. 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 quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $382.70 million during the quarter, compared to analysts' expectations of $370.71 million. During the same period in the previous year, the firm posted $1.38 earnings per share. The company's revenue was up 17.3% on a year-over-year basis. On average, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a $0.308 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.78%. Armstrong World Industries's payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

AWI has been the topic of several research analyst reports. Truist Financial raised their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. UBS Group boosted their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Loop Capital decreased their target price on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. StockNews.com downgraded shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group upped their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $155.50.

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.