Crestline Management LP Invests $283,000 in Armstrong World Industries, Inc. (NYSE:AWI)

Crestline Management LP purchased a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the construction company’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC boosted its position 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 worth $32,000 after acquiring an additional 170 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of Armstrong World Industries in the fourth quarter worth approximately $43,000. Farther Finance Advisors LLC boosted its position 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 worth $60,000 after acquiring an additional 202 shares during the last quarter. Smartleaf Asset Management LLC boosted its position 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 worth $80,000 after acquiring an additional 376 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its position in shares of Armstrong World Industries by 107.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock worth $95,000 after acquiring an additional 349 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AWI shares. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. UBS Group raised 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 report on Wednesday, February 26th. Loop Capital decreased their target price on shares of 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. Truist Financial raised their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $155.50.

Armstrong World Industries Trading Up 0.6%

Shares of AWI stock opened at $152.50 on Monday. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. 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 fifty-two week low of $110.68 and a fifty-two week high of $164.40. The firm’s 50 day moving average price is $140.31 and its two-hundred day moving average price is $146.58.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results 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. The firm had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $370.71 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 earnings per share. On average, analysts anticipate that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.81%. Armstrong World Industries’s dividend payout ratio is currently 19.68%.

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.