Seven Bridges Advisors LLC increased its stake in Armstrong World Industries Inc. (NYSE:AWI) by 27.3% during the second quarter, Holdings Channel reports. The institutional investor owned 12,928 shares of the company’s stock after buying an additional 2,770 shares during the period. Seven Bridges Advisors LLC’s holdings in Armstrong World Industries were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AWI. TIAA CREF Investment Management LLC increased its position 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 during the period. Wellington Management Group LLP increased its position 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 during the period. JPMorgan Chase & Co. increased its position 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 during the period. BlackRock Inc. increased its position 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 during the period. Finally, Lafitte Capital Management LP increased its position 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 during the period. 99.90% of the stock is currently owned by institutional investors.

Armstrong World Industries Inc. (NYSE:AWI) traded down 1.17% during mid-day trading on Tuesday, reaching $40.55. 347,921 shares of the company were exchanged. The stock has a 50-day moving average of $43.36 and a 200 day moving average of $41.79. The firm has a market capitalization of $2.25 billion, a P/E ratio of 90.31 and a beta of 1.53. Armstrong World Industries Inc. has a 1-year low of $35.92 and a 1-year high of $52.99.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Friday, July 29th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $314.30 million for the quarter, compared to the consensus estimate of $311.65 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The company’s revenue was down 50.3% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities research analysts forecast that Armstrong World Industries Inc. will post $2.30 earnings per share for the current year.

A number of research firms have commented on AWI. KeyCorp raised shares of Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $50.00 target price on the stock in a research report on Friday, August 5th. Zacks Investment Research raised shares of Armstrong World Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. RBC Capital Markets reissued a “sector perform” rating and set a $47.00 target price (up previously from $45.00) on shares of Armstrong World Industries in a research report on Monday, August 1st. Royal Bank Of Canada raised their target price on shares of 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. Finally, Goldman Sachs Group Inc. downgraded shares of Armstrong World Industries from a “neutral” rating to a “sell” rating and cut their target price for the company from $38.00 to $34.00 in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Armstrong World Industries presently has an average rating of “Hold” and an average target price of $46.55.

In related news, VP Stephen F. Mcnamara sold 2,274 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $45.00, for a total transaction of $102,330.00. Following the sale, the vice president now directly owns 5,242 shares in the company, valued at approximately $235,890. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Armstrong World Industries Company Profile

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.

5 Day Chart for NYSE:AWI

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