Armstrong World Industries, Inc. (NYSE:AWI) Shares Bought by ExodusPoint Capital Management LP

Posted by Defense World Staff on Jun 8th, 2023

ExodusPoint Capital Management LP increased its stake in Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) by 260.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,985 shares of the construction company’s stock after acquiring an additional 27,443 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.08% of Armstrong World Industries worth $2,605,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Alliancebernstein L.P. lifted its position in shares of Armstrong World Industries by 59.3% in the third quarter. Alliancebernstein L.P. now owns 1,500,752 shares of the construction company’s stock worth $118,905,000 after buying an additional 558,365 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Armstrong World Industries during the 4th quarter worth approximately $35,536,000. Prudential Financial Inc. grew its position in Armstrong World Industries by 3,174.5% during the 1st quarter. Prudential Financial Inc. now owns 293,425 shares of the construction company’s stock worth $26,411,000 after acquiring an additional 284,464 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in Armstrong World Industries by 25.3% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,223,486 shares of the construction company’s stock worth $96,937,000 after buying an additional 246,779 shares in the last quarter. Finally, Timucuan Asset Management Inc. FL lifted its stake in shares of Armstrong World Industries by 27.2% in the 4th quarter. Timucuan Asset Management Inc. FL now owns 1,131,885 shares of the construction company’s stock valued at $77,636,000 after purchasing an additional 241,996 shares during the period.

Armstrong World Industries Trading Up 2.0 %

NYSE:AWI opened at $67.64 on Thursday. Armstrong World Industries, Inc. has a one year low of $62.03 and a one year high of $94.94. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.18 and a quick ratio of 1.49. The firm has a 50-day moving average of $67.33 and a 200-day moving average of $71.73. The company has a market cap of $3.05 billion, a PE ratio of 15.13, a PEG ratio of 1.60 and a beta of 1.10.

Armstrong World Industries (NYSE:AWI – Get Rating) last released its earnings results on Tuesday, April 25th. The construction company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $310.20 million for the quarter, compared to analysts’ expectations of $310.86 million. Armstrong World Industries had a net margin of 16.32% and a return on equity of 41.94%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. As a group, equities research analysts expect that Armstrong World Industries, Inc. will post 4.86 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Thursday, May 4th were issued a $0.254 dividend. This represents a $1.02 annualized dividend and a yield of 1.50%. The ex-dividend date was Wednesday, May 3rd. Armstrong World Industries’s payout ratio is 22.82%.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on shares of Armstrong World Industries from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Armstrong World Industries from $77.00 to $78.00 in a research report on Wednesday, April 26th. Credit Suisse Group reissued an “outperform” rating and issued a $100.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, February 22nd. Bank of America decreased their target price on shares of Armstrong World Industries from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $83.63.

Armstrong World Industries Company Profile

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Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling and wall systems in the United States, Canada, and Latin America. It operates through Mineral Fiber and Architectural Specialties segments. The company offers suspended mineral fiber, soft fiber, fiberglass wool, and metal ceiling systems, as well as wood, wood fiber, glass-reinforced-gypsum, and felt ceiling and wall products; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings and walls for use in commercial settings; and facade and partition products.