Armstrong World Industries (AWI) Surged on Strong Sales and Earnings Growth

The London Company, an investment management company, released “The London Company Mid Cap Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. During 4Q, U.S. equities rose, with most major indices showing positive gains. The portfolio returned 1.8% (-1.8% net) during the quarter compared to a 0.6% increase for the Russell Midcap Index. Both stock selection and sector exposure were headwinds to relative performance of the strategy in the quarter....