Here is What Hedge Funds Think About Armstrong World Industries, Inc. (AWI)

Now, key hedge funds have jumped into Armstrong World Industries, Inc. (NYSE:AWI) headfirst. 40 North Management, managed by David S. Winter and David J. Millstone, established the most valuable position in Armstrong World Industries, Inc. (NYSE:AWI). 40 North Management had $17.7 million invested in the company at the end of the quarter. Robert Vollero and Gentry T. Beach’s Vollero Beach Capital Partners also initiated a $9.3 million position during the quarter. The following funds were also among the new AWI investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Glenn Russell Dubin’s Highbridge Capital Management, and Ken Brodkowitz and Mike Vermut’s Newland Capital.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Armstrong World Industries, Inc. (NYSE:AWI) but similarly valued. These stocks are Noble Corporation plc (NYSE:NE), Compass Minerals International, Inc. (NYSE:CMP), Agios Pharmaceuticals Inc (NASDAQ:AGIO), and United Bankshares, Inc. (NASDAQ:UBSI). This group of stocks’ market caps resemble AWI’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $82 million. That figure was $1318 million in AWI’s case. Noble Corporation plc (NYSE:NE) is the most popular stock in this table. On the other hand United Bankshares, Inc. (NASDAQ:UBSI) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Armstrong World Industries, Inc. (NYSE:AWI), with 37 bullish hedge fund positions, is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.