For the second time in less than two weeks, guru Eric Mindich (Trades, Portfolio), manager of Eton Park Capital Management, L.P., Monday reported investing in Pennsylvania-based Armstrong World Industries Inc. (NYSE:AWI). Armstrong designs and manufactures floors and ceilings.
The stock traded for $54.5 on August 11. When Mindich invested in the stock on August 1, it was selling for $52.99. A new filing with the U.S. Securities and Exchange Commission showed that he holds 3.67 million shares of stock in the company. The position is equal to 6.69% of the class.
Founded in 1860 as a “two-man cork-cutting shop in Pittsburgh,” according to the company’s website, Armstrong was incorporated in 1891. The website asserts that Armstrong has become “a global, multi-billion dollar corporation with thousands of employees around the world.” The website states that the company credits its success to “trust, innovation and partnership.”
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- AWI 15-Year Financial Data
- The intrinsic value of AWI
- Peter Lynch Chart of AWI
Most recently, its shares were traded at around $53.90 with a P/E ratio of 31.80 and P/S ratio of 1.11. Armstrong World Industries Inc had an annual average earnings growth of 9.20% over the past 10 years. In the second quarter of this year, the company reported an increase in net sales to $710 million from $706.6 million in the same period last year. In spite of the increase in sales, AWI’s operating income and net income declined.