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Guru Makes Second Investment in Armstrong World Industries This Month

August 14, 2014 | About:
David Goodloe

David Goodloe

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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. (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.”

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.

About the author:

David Goodloe
I'm a journalist by training. I grew up in Arkansas and earned my B.A. at the University of Arkansas. I earned my master's degree at the University of North Texas. My background includes stints at newspapers in Arkansas and Texas and teaching news writing and news editing to students at the University of Oklahoma and Richland College here in Dallas. I'm the editorial manager at GuruFocus.

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