Moody Aldrich Partners LLC Acquires 22,280 Shares of Armstrong World Industries Inc. (AWI)
Moody Aldrich Partners LLC raised its position in Armstrong World Industries Inc. (NYSE:AWI) by 134.5% during the second quarter, Holdings Channel reports. The fund owned 38,845 shares of the company’s stock after buying an additional 22,280 shares during the period. Moody Aldrich Partners LLC’s holdings in Armstrong World Industries were worth $1,521,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. purchased a new position in shares of Armstrong World Industries during the first quarter valued at approximately $187,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Armstrong World Industries during the first quarter valued at approximately $260,000. BlackRock Inc. raised its position in shares of Armstrong World Industries by 86.5% in the first quarter. BlackRock Inc. now owns 6,728 shares of the company’s stock valued at $326,000 after buying an additional 3,120 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new position in shares of Armstrong World Industries during the first quarter valued at approximately $419,000. Finally, Aperio Group LLC raised its position in shares of Armstrong World Industries by 14.8% in the first quarter. Aperio Group LLC now owns 10,496 shares of the company’s stock valued at $508,000 after buying an additional 1,354 shares in the last quarter. 99.90% of the stock is owned by institutional investors.
Armstrong World Industries Inc. (NYSE:AWI) traded up 2.16% during midday trading on Thursday, reaching $41.65. The company had a trading volume of 397,805 shares. Armstrong World Industries Inc. has a 1-year low of $35.92 and a 1-year high of $52.39. The company has a market capitalization of $2.31 billion, a P/E ratio of 92.76 and a beta of 1.53. The firm has a 50-day moving average of $43.32 and a 200 day moving average of $41.79.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The business had revenue of $314.30 million for the quarter, compared to the consensus estimate of $311.65 million. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was down 50.3% compared to the same quarter last year. On average, equities research analysts forecast that Armstrong World Industries Inc. will post $2.30 EPS for the current year.
Several brokerages have commented on AWI. KeyCorp raised Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research report on Friday, August 5th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $47.00 price target (up previously from $45.00) on shares of Armstrong World Industries in a research report on Monday, August 1st. Royal Bank Of Canada lifted their price target on Armstrong World Industries from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, August 1st. Zacks Investment Research raised Armstrong World Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. lowered Armstrong World Industries from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $38.00 to $34.00 in a research report on Monday, July 11th. Two investment 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’s stock. Armstrong World Industries currently has an average rating of “Hold” and a consensus target price of $46.55.
In other news, VP Stephen F. Mcnamara sold 2,274 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $45.00, for a total transaction of $102,330.00. Following the transaction, the vice president now owns 5,242 shares of the company’s stock, valued at approximately $235,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.
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