Longboard Asset Management LP Makes New Investment in Armstrong World Industries, Inc. (NYSE:AWI)

Longboard Asset Management LP purchased a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,695 shares of the construction company’s stock, valued at approximately $240,000.

Other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC lifted its holdings in Armstrong World Industries by 16.0% in the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after acquiring an additional 67,798 shares during the period. Quest Partners LLC increased its holdings in shares of Armstrong World Industries by 32.9% in the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock valued at $2,625,000 after purchasing an additional 4,945 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Armstrong World Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after purchasing an additional 34,028 shares during the period. BNP Paribas Financial Markets boosted its holdings in Armstrong World Industries by 89.2% during the third quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after buying an additional 5,191 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Armstrong World Industries during the third quarter worth about $1,035,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of research reports. Truist Financial lifted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital lifted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Trading Down 1.0 %

Shares of Armstrong World Industries stock opened at $149.54 on Tuesday. Armstrong World Industries, Inc. has a fifty-two week low of $99.63 and a fifty-two week high of $164.40. The business’s fifty day moving average is $149.41 and its two-hundred day moving average is $139.16. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.52 billion, a PE ratio of 26.37, a P/E/G ratio of 1.64 and a beta of 1.19.

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.