Fiduciary Management Inc. WI lowered its stake in shares of Armstrong World Industries Inc (NYSE:AWI) by 10.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,833,662 shares of the construction company’s stock after selling 220,076 shares during the period. Fiduciary Management Inc. WI owned approximately 3.54% of Armstrong World Industries worth $103,235,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Flinton Capital Management LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $102,000. Riverhead Capital Management LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $113,000. Captrust Financial Advisors acquired a new position in Armstrong World Industries during the 4th quarter valued at about $147,000. Meadow Creek Investment Management LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $140,000. Finally, Glen Harbor Capital Management LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $178,000.
In related news, SVP David S. Cookson sold 27,336 shares of Armstrong World Industries stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $63.00, for a total value of $1,722,168.00. Following the completion of the transaction, the senior vice president now directly owns 33,281 shares in the company, valued at approximately $2,096,703. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.94% of the stock is currently owned by insiders.
A number of research firms have issued reports on AWI. Zacks Investment Research upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Thursday. Goldman Sachs Group raised shares of Armstrong World Industries from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 4th. JPMorgan Chase & Co. cut shares of Armstrong World Industries from a “neutral” rating to an “underweight” rating in a research report on Wednesday, March 7th. Stephens reissued a “hold” rating and set a $64.00 target price on shares of Armstrong World Industries in a research report on Thursday, March 1st. Finally, SunTrust Banks reissued a “buy” rating and set a $67.00 target price on shares of Armstrong World Industries in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $62.75.
NYSE:AWI opened at $63.50 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.20 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $3.31 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.00 and a beta of 1.71. Armstrong World Industries Inc has a 12 month low of $43.40 and a 12 month high of $65.00.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, April 30th. The construction company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). The company had revenue of $227.30 million during the quarter, compared to the consensus estimate of $231.35 million. Armstrong World Industries had a return on equity of 41.44% and a net margin of 13.54%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. sell-side analysts expect that Armstrong World Industries Inc will post 3.71 EPS for the current year.
Armstrong World Industries Profile
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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