Gates Capital Management Inc. Has $86.98 Million Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Gates Capital Management Inc. cut its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 615,445 shares of the construction company’s stock after selling 65,000 shares during the quarter. Armstrong World Industries makes up approximately 1.6% of Gates Capital Management Inc.’s portfolio, making the stock its 22nd biggest position. Gates Capital Management Inc. owned 1.41% of Armstrong World Industries worth $86,981,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in shares of Armstrong World Industries in the 4th quarter worth approximately $32,000. Quent Capital LLC grew its stake in Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after purchasing an additional 170 shares during the period. Fortitude Family Office LLC bought a new stake in Armstrong World Industries in the fourth quarter worth approximately $33,000. Twin Tree Management LP acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC grew its position in shares of Armstrong World Industries by 90.2% during the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock worth $60,000 after buying an additional 202 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

AWI opened at $152.50 on Friday. The firm has a 50-day moving average price of $140.31 and a 200-day moving average price of $146.48. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.60 and a beta of 1.36.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data 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. The company had revenue of $382.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. Equities analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.81%. The ex-dividend date is Thursday, May 8th. Armstrong World Industries’s dividend payout ratio is presently 19.68%.

Analyst Ratings Changes

A number of brokerages have commented on AWI. UBS Group boosted 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 note on Wednesday, February 26th. Loop Capital dropped their target price on Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial increased 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 note on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.