Armstrong World Industries, Inc. (NYSE:AWI) Shares Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd grew its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 128.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,948 shares of the construction company’s stock after purchasing an additional 1,659 shares during the period. Point72 Hong Kong Ltd’s holdings in Armstrong World Industries were worth $417,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quantinno Capital Management LP grew its position in shares of Armstrong World Industries by 52.0% during the 4th quarter. Quantinno Capital Management LP now owns 14,430 shares of the construction company’s stock valued at $2,039,000 after buying an additional 4,936 shares during the last quarter. Moore Capital Management LP bought a new position in shares of Armstrong World Industries during the fourth quarter valued at approximately $3,285,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Armstrong World Industries during the 4th quarter worth approximately $467,000. Jefferies Financial Group Inc. acquired a new stake in shares of Armstrong World Industries during the 4th quarter worth approximately $338,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Armstrong World Industries by 48.9% in the 4th quarter. Gotham Asset Management LLC now owns 4,027 shares of the construction company’s stock worth $569,000 after purchasing an additional 1,323 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Performance

AWI stock opened at $160.16 on Friday. The company has a 50-day simple moving average of $141.38 and a 200 day simple moving average of $147.15. The company has a market capitalization of $6.96 billion, a P/E ratio of 28.25, a PEG 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.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 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 net margin of 17.95% and a return on equity of 40.67%. Armstrong World Industries’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 EPS. Sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be issued 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 yield of 0.77%. Armstrong World Industries’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AWI shares. UBS Group upped their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of 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 stock a “buy” rating in a report on Thursday, February 27th. Loop Capital reduced their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Finally, Bank of America raised 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 note on Thursday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $157.57.

About Armstrong World Industries

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.