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

ExodusPoint Capital Management LP decreased its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 56.1% during the fourth quarter, according to the company in its most recent disclosure with the 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 reporting period.

A number of other hedge funds have also recently modified their holdings of AWI. ORG Wealth Partners LLC purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at approximately $32,000. Quent Capital LLC boosted its holdings in shares of Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after purchasing an additional 170 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at approximately $33,000. Twin Tree Management LP purchased a new stake in shares of Armstrong World Industries in the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Armstrong World Industries by 90.2% in the fourth quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company’s stock valued at $60,000 after purchasing an additional 202 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Performance

Shares of AWI opened at $135.27 on Thursday. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The stock has a fifty day moving average price of $145.08 and a 200-day moving average price of $145.76. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The firm has a market cap of $5.88 billion, a PE ratio of 23.86, a P/E/G ratio of 1.60 and a beta of 1.20.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. During the same quarter in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries’s payout ratio is 20.40%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group upped their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, UBS Group upped their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $153.33.

About Armstrong World Industries

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.