Public Employees Retirement System of Ohio reduced its stake in shares of Armstrong World Industries Inc (NYSE:AWI) by 3.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,239 shares of the construction company’s stock after selling 734 shares during the period. Public Employees Retirement System of Ohio’s holdings in Armstrong World Industries were worth $1,279,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sun Life Financial INC bought a new stake in Armstrong World Industries in the second quarter worth $108,000. Mount Yale Investment Advisors LLC bought a new stake in Armstrong World Industries in the first quarter worth $137,000. SG Americas Securities LLC bought a new stake in Armstrong World Industries in the second quarter worth $183,000. Captrust Financial Advisors lifted its stake in Armstrong World Industries by 157.0% in the second quarter. Captrust Financial Advisors now owns 3,136 shares of the construction company’s stock worth $198,000 after purchasing an additional 1,916 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Armstrong World Industries in the second quarter worth $218,000. 99.92% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $73.00 price target on shares of Armstrong World Industries in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. SunTrust Banks boosted their price target on shares of Armstrong World Industries to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Goldman Sachs Group assumed coverage on shares of Armstrong World Industries in a research note on Tuesday, October 2nd. They issued a “neutral” rating and a $70.00 price target for the company. Finally, ValuEngine raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $67.13.
Armstrong World Industries stock opened at $63.17 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.12 and a beta of 1.70. Armstrong World Industries Inc has a twelve month low of $49.25 and a twelve month high of $73.45.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, July 31st. The construction company reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $248.60 million during the quarter, compared to the consensus estimate of $245.81 million. Armstrong World Industries had a net margin of 15.18% and a return on equity of 41.92%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. On average, equities analysts anticipate that Armstrong World Industries Inc will post 3.74 EPS for the current fiscal year.
In other news, Director Holdings L.P. Valueact sold 100,000 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $70.03, for a total transaction of $7,003,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valueact Capital Master Fund, sold 1,500,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $69.20, for a total transaction of $103,800,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,667,990 shares of company stock valued at $115,566,762. Insiders own 1.94% of the company’s stock.
About Armstrong World Industries
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.
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