5 Best Manufacturing Stocks To Buy Now

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1. Armstrong World Industries, Inc. (NYSE: AWI)

No. of Hedge Fund Holders: 31

Founded in 1891, Pennsylvania-based Armstrong World Industries is one of the best manufacturing stocks to buy now. The company designs and sells walls and ceilings. The stock has gained 17% year to date. In January, Bank of America upgraded the stock to Buy from Neutral. The bank believes the company has seen the “bottom” in 2020 amid low demand and negative sentiment. In the fourth quarter, Armstrong World posted adjusted EPS of $0.77, beating the Street forecasts by $0.10. Revenue in the period slid 3.3% but beat the Street’s forecast by $7.27 million.

Gates Capital Management currently owns 1.7 million shares of Armstrong World Industries Inc. worth $125.5 million, as of December 31, 2020. Another major stakeholder is Cantillon Capital Management, which owns $92.6 million worth of AWI shares.

A total of 31 hedge funds tracked by Insider Monkey were long AWI at the end of December 2020, compared to 30 funds a quarter earlier.

You can also take a peek at Billionaire Julian Robertson’s Top 10 Stocks and Billionaire Stan Druckenmiller’s Top 10 Stock Picks.

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