Adage Capital Partners GP L.L.C. Acquires 389,000 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Adage Capital Partners GP L.L.C. increased its stake in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 140.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 666,000 shares of the construction company's stock after purchasing an additional 389,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.53% of Armstrong World Industries worth $94,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC bought a new position in Armstrong World Industries in the fourth quarter valued at $75,242,000. Norges Bank bought a new position in shares of Armstrong World Industries in the 4th quarter valued at about $71,822,000. Invesco Ltd. raised its holdings in Armstrong World Industries by 25.4% during the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after acquiring an additional 102,895 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Armstrong World Industries during the fourth quarter valued at approximately $8,375,000. Finally, Geode Capital Management LLC grew its stake in Armstrong World Industries by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock valued at $125,444,000 after purchasing an additional 35,738 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Performance

NYSE:AWI traded up $0.02 during mid-day trading on Friday, reaching $138.47. 366,704 shares of the company's stock were exchanged, compared to its average volume of 273,836. Armstrong World Industries, Inc. has a one year low of $110.68 and a one year high of $164.40. The business's fifty day simple moving average is $140.84 and its two-hundred day simple moving average is $145.89. The firm has a market capitalization of $6.02 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. During the same quarter in the prior year, the firm posted $1.22 EPS. The firm's quarterly revenue was up 17.7% on a year-over-year basis. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, May 8th. Armstrong World Industries's payout ratio is 20.40%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AWI. 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. Truist Financial boosted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. StockNews.com cut Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $153.33.

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.