Crestline Management LP Invests $283,000 in Armstrong World Industries, Inc. (NYSE:AWI)

Crestline Management LP bought a new position in Armstrong World Industries, Inc. (NYSE:AWI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,000 shares of the construction company’s stock, valued at approximately $283,000.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC lifted its stake in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after acquiring an additional 170 shares during the period. Twin Tree Management LP acquired a new stake in shares of Armstrong World Industries in the 4th quarter worth $43,000. Farther Finance Advisors LLC increased its holdings in shares of Armstrong World Industries by 90.2% in the 4th 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 in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Armstrong World Industries by 196.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 567 shares of the construction company’s stock valued at $80,000 after purchasing an additional 376 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in shares of Armstrong World Industries by 107.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock valued at $95,000 after purchasing an additional 349 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AWI shares. Truist Financial increased 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 downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group increased their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Loop Capital cut their price target on shares of Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Finally, UBS Group increased their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $155.50.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $152.50 on Monday. 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 50-day moving average price of $140.31 and a two-hundred day moving average price of $146.58. Armstrong World Industries, Inc. has a twelve month low of $110.68 and a twelve month high of $164.40. The company has a market capitalization of $6.62 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same period last year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts expect 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 issued a dividend of $0.308 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.81%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.68%.

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.