Armstrong World Industries Inc. (AWI): Eton Park Capital Reveals New Over 6% Passive Stake

Eton Park Capital, managed by Eric Mindich, has disclosed a new passive stake in Armstrong World Industries Inc. (NYSE:AWI). A new filing with the U.S. Securities and Exchange Commission showed that Eton Park Capital holds 3.67 million shares of common stock of the company. The position is equal to 6.69% of the class.

ETON PARK CAPITAL

With a market cap of $2.95 billion, Armstrong World Industries Inc. (NYSE:AWI) is engaged in designing and manufacturing of floors and ceilings. For the second quarter of 2014, the company reported an increase in net sales to $710 million from $706.6 million in the same period of 2013.

Despite the increase in sales, the company’s operating income and net income both declined. Net income for the second quarter was $21 million, or $0.38 diluted earnings per share, compared to $30.6 million, or $0.51 per share, in the same quarter of 2013. Operating income was $57.8 million, down from $67.6 million in 2013, according to a news release.

For the full-year, sales are expected to be in the $2.7 to $2.8 billion range, and adjusted EBITDA to be in the range of $370 to $400 million. The company expects 2014 adjusted EPS to be $2.15 to $2.40 per diluted share and free cash flow to be between $20 and $60 million for the full year.

Other hedge funds having big stakes in Armstrong World Industries Inc. (NYSE:AWI) include OZ Management, led by Daniel S. Och, and James Dinan’s York Capital Management, holding 1.69 million shares and 1.54 million shares, respectively.

Armstrong World Industries Inc. (NYSE:AWI) shares, on Tuesday, were trading down by 0.05% to $53.88. The stock has a 52-week high of $61.90, and a 52-week low of $47.51. The consensus average target price for the stock is $60.55, while the consensus average recommendation is ‘Overweight’.

Eric Mindich founded Eton Park Capital in 2004 after spending 15 years at Goldman Sachs, where he cut his professional teeth in equities risk arbitrage and equities division management. As of the end of first quarter of 2014, the market value of the fund’s equity portfolio was about $5.88 billion.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Biggest Airports in the World

The 5 Most Gang Infested Cities In America

The 34 Smartest Countries in the World

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!