Longboard Asset Management LP Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Longboard Asset Management LP purchased a new position in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,695 shares of the construction company's stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AWI. Marshall Wace LLP lifted its holdings in Armstrong World Industries by 64.0% in the 2nd quarter. Marshall Wace LLP now owns 5,910 shares of the construction company's stock valued at $669,000 after acquiring an additional 2,306 shares during the last quarter. Millennium Management LLC boosted its stake in Armstrong World Industries by 252.5% in the 2nd quarter. Millennium Management LLC now owns 55,078 shares of the construction company's stock worth $6,237,000 after purchasing an additional 39,452 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Armstrong World Industries by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 9,161 shares of the construction company's stock valued at $1,037,000 after buying an additional 610 shares in the last quarter. Mackenzie Financial Corp grew its stake in Armstrong World Industries by 29.9% during the 2nd quarter. Mackenzie Financial Corp now owns 3,117 shares of the construction company's stock valued at $353,000 after acquiring an additional 718 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Armstrong World Industries in the 2nd quarter valued at approximately $537,000. Institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AWI shares. Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Truist Financial upped their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Loop Capital lifted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $140.83.

Armstrong World Industries Price Performance

Shares of AWI traded down $2.12 during mid-day trading on Friday, reaching $151.03. The company had a trading volume of 168,563 shares, compared to its average volume of 196,527. The company has a market capitalization of $6.58 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.64 and a beta of 1.19. The company's 50-day moving average is $148.67 and its 200-day moving average is $139.71. Armstrong World Industries, Inc. has a twelve month low of $101.73 and a twelve month high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

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.