Bayesian Capital Management LP Buys New Shares in Armstrong World Industries, Inc. (NYSE:AWI)

Bayesian Capital Management LP bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,525 shares of the construction company’s stock, valued at approximately $1,059,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AWI. Jupiter Asset Management Ltd. acquired a new stake in Armstrong World Industries in the first quarter valued at $2,081,000. Illinois Municipal Retirement Fund acquired a new stake in Armstrong World Industries in the first quarter valued at $3,097,000. Chesapeake Capital Corp IL acquired a new stake in Armstrong World Industries in the fourth quarter valued at $918,000. Janney Montgomery Scott LLC raised its stake in Armstrong World Industries by 142.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,440 shares of the construction company’s stock valued at $1,223,000 after buying an additional 7,317 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth about $39,183,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group lifted their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI lifted their target price on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.00.

Armstrong World Industries Stock Performance

AWI stock traded down $0.58 during trading on Wednesday, hitting $131.59. The company had a trading volume of 10,319 shares, compared to its average volume of 342,986. The firm has a market cap of $5.76 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. Armstrong World Industries, Inc. has a 1-year low of $68.35 and a 1-year high of $134.90. The firm has a 50-day moving average price of $117.07 and a 200-day moving average price of $115.21. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. The firm had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, analysts expect that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

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.