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

Marshall Wace LLP purchased a new stake in Armstrong World Industries Inc (NYSE:AWI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 310,769 shares of the construction company’s stock, valued at approximately $21,630,000. Marshall Wace LLP owned about 0.63% of Armstrong World Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sun Life Financial INC bought a new position in Armstrong World Industries in the 2nd quarter valued at $108,000. SG Americas Securities LLC bought a new position in Armstrong World Industries in the 2nd quarter valued at $183,000. Tower Research Capital LLC TRC bought a new position in Armstrong World Industries in the 3rd quarter valued at $196,000. Captrust Financial Advisors grew its stake in Armstrong World Industries by 157.0% in the 2nd quarter. Captrust Financial Advisors now owns 3,136 shares of the construction company’s stock valued at $198,000 after purchasing an additional 1,916 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Armstrong World Industries in the 3rd quarter valued at $210,000. 97.07% of the stock is owned by institutional investors and hedge funds.

In other news, insider Valueact Capital Master Fund, sold 2,980,000 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark A. Hershey sold 2,217 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $70.04, for a total value of $155,278.68. Following the completion of the transaction, the senior vice president now owns 38,516 shares of the company’s stock, valued at approximately $2,697,660.64. The disclosure for this sale can be found here. Insiders have sold a total of 3,017,990 shares of company stock valued at $205,747,462 in the last quarter. 1.94% of the stock is owned by corporate insiders.

AWI stock opened at $64.47 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 2.36. The firm has a market cap of $3.24 billion, a PE ratio of 19.16, a PEG ratio of 1.00 and a beta of 1.78. Armstrong World Industries Inc has a fifty-two week low of $54.45 and a fifty-two week high of $73.45.

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

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

AWI has been the subject of a number of recent analyst reports. Goldman Sachs Group initiated coverage on Armstrong World Industries in a research note on Tuesday, October 2nd. They issued a “neutral” rating and a $70.00 price objective for the company. Bank of America upgraded Armstrong World Industries from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $75.00 in a research note on Monday, November 12th. Jefferies Financial Group restated a “hold” rating and issued a $70.00 price objective on shares of Armstrong World Industries in a research note on Friday, November 2nd. SunTrust Banks restated a “positive” rating and issued a $85.00 price objective on shares of Armstrong World Industries in a research note on Friday, November 9th. Finally, KeyCorp upgraded Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 price objective for the company in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Armstrong World Industries currently has an average rating of “Hold” and an average price target of $73.00.

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

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