Marshall Wace LLP Purchases New Holdings in Armstrong World Industries Inc (AWI)

Marshall Wace LLP purchased a new stake in Armstrong World Industries Inc (NYSE:AWI) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 310,769 shares of the construction company’s stock, valued at approximately $21,630,000.

Other large investors have also added to or reduced their stakes in the company. Cantillon Capital Management LLC purchased a new position in shares of Armstrong World Industries during the 2nd quarter valued at about $72,722,000. Prudential Financial Inc. raised its holdings in shares of Armstrong World Industries by 2,659.0% during the 3rd quarter. Prudential Financial Inc. now owns 543,032 shares of the construction company’s stock valued at $37,795,000 after buying an additional 523,350 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in shares of Armstrong World Industries by 176.5% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 597,863 shares of the construction company’s stock valued at $41,611,000 after buying an additional 381,602 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Armstrong World Industries during the 3rd quarter valued at about $19,169,000. Finally, FMR LLC raised its holdings in shares of Armstrong World Industries by 67.4% during the 2nd quarter. FMR LLC now owns 669,670 shares of the construction company’s stock valued at $42,323,000 after buying an additional 269,670 shares in the last quarter. 97.07% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on AWI shares. Zacks Investment Research cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective on shares of Armstrong World Industries in a report on Friday, November 2nd. Bank of America raised Armstrong World Industries from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $75.00 in a report on Monday, November 12th. Goldman Sachs Group started coverage on Armstrong World Industries in a report on Tuesday, October 2nd. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, KeyCorp raised Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 price objective on the stock in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.00.

In related news, insider Valueact Capital Master Fund, sold 2,980,000 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $68.15, for a total transaction of $203,087,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark A. Hershey sold 2,217 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $70.04, for a total value of $155,278.68. Following the transaction, the senior vice president now owns 38,516 shares in the company, valued at $2,697,660.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,017,990 shares of company stock worth $205,747,462. 1.94% of the stock is owned by corporate insiders.

AWI opened at $64.47 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.35 and a current ratio of 1.46. Armstrong World Industries Inc has a 1 year low of $54.45 and a 1 year high of $73.45. The company has a market cap of $3.24 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.00 and a beta of 1.78.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.06). Armstrong World Industries had a return on equity of 45.95% and a net margin of 19.46%. The company had revenue of $260.50 million for the quarter, compared to the consensus estimate of $252.96 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. Armstrong World Industries’s revenue was up 11.4% compared to the same quarter last year. Research analysts forecast that Armstrong World Industries Inc will post 3.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, December 4th will be given a dividend of $0.175 per share. The ex-dividend date is Monday, December 3rd. This represents a $0.70 annualized dividend and a yield of 1.09%. Armstrong World Industries’s payout ratio is 23.18%.

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Armstrong World Industries Profile

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.

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Want to see what other hedge funds are holding AWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Armstrong World Industries Inc (NYSE:AWI).

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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