HighTower Advisors LLC Purchases New Position in Armstrong World Industries Inc (AWI)

HighTower Advisors LLC purchased a new stake in shares of Armstrong World Industries Inc (NYSE:AWI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,859 shares of the construction company’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Armstrong World Industries by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock worth $106,000 after purchasing an additional 286 shares in the last quarter. Invictus RG purchased a new stake in Armstrong World Industries during the 1st quarter worth about $117,000. Oppenheimer Asset Management Inc. lifted its holdings in Armstrong World Industries by 239.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock worth $128,000 after purchasing an additional 1,964 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Armstrong World Industries during the 2nd quarter worth about $149,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Armstrong World Industries by 65.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock worth $162,000 after purchasing an additional 1,391 shares in the last quarter.

Armstrong World Industries Inc (AWI) opened at 53.55 on Friday. Armstrong World Industries Inc has a 12 month low of $36.38 and a 12 month high of $54.45. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.39 and a beta of 1.63. The stock’s 50 day moving average price is $51.22 and its 200 day moving average price is $46.90.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, July 31st. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. The company had revenue of $330.80 million for the quarter, compared to the consensus estimate of $330.92 million. Armstrong World Industries had a return on equity of 49.73% and a net margin of 13.24%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Equities research analysts anticipate that Armstrong World Industries Inc will post $2.73 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on AWI. KeyCorp reissued a “hold” rating on shares of Armstrong World Industries in a report on Tuesday. Citigroup Inc. increased their price objective on Armstrong World Industries from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, October 20th. Royal Bank Of Canada restated a “hold” rating and issued a $50.00 target price on shares of Armstrong World Industries in a research note on Tuesday, August 29th. BidaskClub lowered Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Deutsche Bank AG upped their target price on Armstrong World Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.00.

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Armstrong World Industries Profile

Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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