Starr International Co. Inc. purchased a new stake in shares of Armstrong World Industries Inc (NYSE:AWI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 38,037 shares of the construction company’s stock, valued at approximately $3,021,000. Starr International Co. Inc. owned 0.08% of Armstrong World Industries at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Armstrong World Industries during the 4th quarter worth approximately $36,692,000. Millennium Management LLC boosted its position in shares of Armstrong World Industries by 212.0% in the 4th quarter. Millennium Management LLC now owns 702,346 shares of the construction company’s stock worth $40,884,000 after purchasing an additional 477,235 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $21,630,000. Cantillon Capital Management LLC boosted its position in shares of Armstrong World Industries by 25.4% in the 4th quarter. Cantillon Capital Management LLC now owns 1,342,551 shares of the construction company’s stock worth $78,150,000 after purchasing an additional 271,962 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Armstrong World Industries in the 1st quarter worth approximately $18,226,000. Institutional investors own 99.47% of the company’s stock.
In other Armstrong World Industries news, Director Holdings L.P. Valueact sold 456,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $73.25, for a total value of $33,402,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, sold 1,725,000 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $73.69, for a total value of $127,115,250.00. The disclosure for this sale can be found here. Insiders sold a total of 2,259,188 shares of company stock valued at $167,321,824 over the last 90 days. 1.94% of the stock is currently owned by company insiders.
Shares of NYSE AWI traded up $1.95 during midday trading on Friday, hitting $89.08. 241,301 shares of the stock traded hands, compared to its average volume of 499,976. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.20 and a beta of 1.85. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.27 and a quick ratio of 1.15. Armstrong World Industries Inc has a one year low of $54.34 and a one year high of $89.63.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.15. The firm had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $247.38 million. Armstrong World Industries had a return on equity of 63.92% and a net margin of 19.92%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Equities research analysts anticipate that Armstrong World Industries Inc will post 4.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.70 annualized dividend and a dividend yield of 0.79%. Armstrong World Industries’s dividend payout ratio (DPR) is 19.13%.
A number of analysts have recently commented on the company. ValuEngine raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Zelman & Associates cut Armstrong World Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Zacks Investment Research cut Armstrong World Industries from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Bank of America upped their price objective on Armstrong World Industries from $84.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, Nomura reaffirmed a “neutral” rating and issued a $76.00 price objective (up from $73.00) on shares of Armstrong World Industries in a research report on Monday, March 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $83.01.
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Armstrong World Industries Company Profile
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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