Point72 Asset Management L.P. Makes New Investment in Armstrong World Industries Inc (NYSE:AWI)
Point72 Asset Management L.P. acquired a new position in shares of Armstrong World Industries Inc (NYSE:AWI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 279,349 shares of the construction company’s stock, valued at approximately $26,250,000. Point72 Asset Management L.P. owned approximately 0.58% of Armstrong World Industries at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Evoke Wealth LLC acquired a new stake in Armstrong World Industries in the 3rd quarter valued at approximately $31,000. Aigen Investment Management LP bought a new position in shares of Armstrong World Industries in the fourth quarter worth $31,000. Evolution Wealth Advisors LLC bought a new position in shares of Armstrong World Industries in the fourth quarter worth $39,000. Huntington National Bank boosted its holdings in shares of Armstrong World Industries by 58,000.0% in the fourth quarter. Huntington National Bank now owns 581 shares of the construction company’s stock worth $55,000 after acquiring an additional 580 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Armstrong World Industries in the fourth quarter worth $72,000.
Armstrong World Industries stock traded up $6.19 during midday trading on Wednesday, reaching $78.39. The stock had a trading volume of 417,217 shares, compared to its average volume of 435,163. The company has a quick ratio of 1.13, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. Armstrong World Industries Inc has a 52-week low of $62.03 and a 52-week high of $111.46. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. The company has a fifty day moving average of $96.15 and a 200 day moving average of $96.61.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Thursday, March 5th were given a $0.20 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Armstrong World Industries’s dividend payout ratio is 16.74%.
A number of research analysts recently issued reports on AWI shares. SunTrust Banks boosted their price target on Armstrong World Industries to $120.00 and gave the company a “positive” rating in a report on Tuesday, February 25th. ValuEngine raised shares of Armstrong World Industries from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. BNP Paribas raised shares of Armstrong World Industries from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 21st. Loop Capital raised shares of Armstrong World Industries from a “sell” rating to a “hold” rating and dropped their target price for the stock from $95.00 to $83.00 in a report on Tuesday, March 17th. Finally, Goldman Sachs Group initiated coverage on shares of Armstrong World Industries in a report on Friday, December 6th. They issued a “buy” rating and a $112.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $103.40.
About Armstrong World Industries
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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