ExodusPoint Capital Management LP Sells 11,519 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

ExodusPoint Capital Management LP trimmed its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 56.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,009 shares of the construction company's stock after selling 11,519 shares during the quarter. ExodusPoint Capital Management LP's holdings in Armstrong World Industries were worth $1,273,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AWI. Walleye Capital LLC acquired a new position in shares of Armstrong World Industries during the 3rd quarter valued at about $225,000. HighTower Advisors LLC boosted its position in Armstrong World Industries by 1.1% during the third quarter. HighTower Advisors LLC now owns 15,730 shares of the construction company's stock worth $2,073,000 after purchasing an additional 177 shares during the period. IHT Wealth Management LLC acquired a new position in Armstrong World Industries during the third quarter valued at approximately $227,000. Quantinno Capital Management LP grew its holdings in Armstrong World Industries by 33.1% during the third quarter. Quantinno Capital Management LP now owns 9,494 shares of the construction company's stock valued at $1,248,000 after purchasing an additional 2,362 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Armstrong World Industries by 12.2% in the third quarter. Stifel Financial Corp now owns 99,596 shares of the construction company's stock valued at $13,090,000 after purchasing an additional 10,811 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

AWI has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Truist Financial upped their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 27th. StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, UBS Group increased their target price on Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Armstrong World Industries presently has a consensus rating of "Hold" and an average target price of $153.33.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $0.84 during mid-day trading on Tuesday, hitting $135.87. The company had a trading volume of 28,962 shares, compared to its average volume of 269,448. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 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. The firm has a market cap of $5.91 billion, a P/E ratio of 23.97, a PEG ratio of 1.60 and a beta of 1.20. The business's 50-day simple moving average is $144.10 and its 200-day simple moving average is $145.92.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's payout ratio is 20.40%.

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.