Russell Investments Group Ltd. Reduces Holdings in Armstrong World Industries Inc (AWI)
Russell Investments Group Ltd. trimmed its holdings in shares of Armstrong World Industries Inc (NYSE:AWI) by 44.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,484 shares of the construction company’s stock after selling 66,262 shares during the period. Russell Investments Group Ltd.’s holdings in Armstrong World Industries were worth $5,147,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Flinton Capital Management LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth $102,000. Riverhead Capital Management LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth $113,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth $137,000. Meadow Creek Investment Management LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth $140,000. Finally, Glen Harbor Capital Management LLC acquired a new stake in shares of Armstrong World Industries during the first quarter worth $178,000. 99.93% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on AWI shares. Zacks Investment Research raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Monday, May 28th. Jefferies Financial Group restated a “hold” rating and set a $68.00 price target on shares of Armstrong World Industries in a research report on Friday, July 20th. SunTrust Banks upped their price target on shares of Armstrong World Industries to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, ValuEngine lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.71.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, July 31st. The construction company reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $248.60 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. equities research analysts predict that Armstrong World Industries Inc will post 3.74 EPS for the current year.
In related news, insider Valueact Capital Master Fund, sold 1,500,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $69.20, for a total value of $103,800,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Holdings L.P. Valueact sold 100,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold 1,630,000 shares of company stock valued at $112,906,300 in the last 90 days. Insiders own 1.94% of the company’s stock.
Armstrong World Industries Company 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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