Dimensional Fund Advisors LP raised its position in Armstrong World Industries Inc. (NYSE:AWI) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,196,523 shares of the company’s stock after buying an additional 75,149 shares during the period. Dimensional Fund Advisors LP owned 2.16% of Armstrong World Industries worth $46,842,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AWI. Wellington Management Group LLP increased its stake in Armstrong World Industries by 2.7% in the first quarter. Wellington Management Group LLP now owns 1,137,528 shares of the company’s stock worth $55,022,000 after buying an additional 29,902 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Armstrong World Industries by 7.0% in the first quarter. TIAA CREF Investment Management LLC now owns 65,412 shares of the company’s stock worth $3,164,000 after buying an additional 4,283 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Armstrong World Industries by 84.7% in the first quarter. JPMorgan Chase & Co. now owns 94,807 shares of the company’s stock worth $4,585,000 after buying an additional 43,473 shares in the last quarter. BlackRock Inc. increased its stake in Armstrong World Industries by 86.5% in the first quarter. BlackRock Inc. now owns 6,728 shares of the company’s stock worth $326,000 after buying an additional 3,120 shares in the last quarter. Finally, Lafitte Capital Management LP increased its stake in Armstrong World Industries by 58.1% in the first quarter. Lafitte Capital Management LP now owns 224,486 shares of the company’s stock worth $10,858,000 after buying an additional 82,500 shares in the last quarter. Institutional investors and hedge funds own 99.90% of the company’s stock.
Shares of Armstrong World Industries Inc. (NYSE:AWI) opened at 40.48 on Wednesday. The firm’s 50-day moving average price is $42.10 and its 200 day moving average price is $41.60. Armstrong World Industries Inc. has a 52 week low of $35.92 and a 52 week high of $52.33. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 90.16 and a beta of 1.50.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Friday, July 29th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The company earned $314.30 million during the quarter, compared to analyst estimates of $311.65 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The firm’s revenue was down 50.3% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. On average, equities research analysts forecast that Armstrong World Industries Inc. will post $2.25 EPS for the current year.
Several brokerages have recently weighed in on AWI. Bank of America Corp. set a $39.00 price target on Armstrong World Industries and gave the company a “sell” rating in a research report on Tuesday, October 4th. Zacks Investment Research cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. KeyCorp upgraded Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Friday, August 5th. RBC Capital Markets reiterated a “sector perform” rating and issued a $47.00 price target (up from $45.00) on shares of Armstrong World Industries in a research report on Monday, August 1st. Finally, Royal Bank Of Canada lifted their price target on Armstrong World Industries from $45.00 to $47.00 and gave the company a “sector perform” rating in a research report on Monday, August 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.25.
In related news, VP Stephen F. Mcnamara sold 2,274 shares of Armstrong World Industries stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $45.00, for a total value of $102,330.00. Following the completion of the transaction, the vice president now owns 5,242 shares in the company, valued at $235,890. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.
About Armstrong World Industries
Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.
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