Alps Advisors Inc. purchased a new position in Armstrong World Industries Inc (NYSE:AWI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,639 shares of the construction company’s stock, valued at approximately $494,000.
Several other large investors also recently bought and sold shares of AWI. JPMorgan Chase & Co. boosted its position in shares of Armstrong World Industries by 14.1% in 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 during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Armstrong World Industries by 239.5% in 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 during the last quarter. SG Americas Securities LLC bought a new position in shares of Armstrong World Industries in the 2nd quarter worth $149,000. BNP Paribas Arbitrage SA boosted its position in shares of Armstrong World Industries by 65.3% in 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 during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Armstrong World Industries in the 3rd quarter worth $193,000.
Armstrong World Industries Inc (NYSE:AWI) traded up $0.10 during trading on Monday, reaching $59.80. The company had a trading volume of 717,993 shares, compared to its average volume of 507,700. Armstrong World Industries Inc has a fifty-two week low of $38.45 and a fifty-two week high of $60.25. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market capitalization of $3,157.46, a PE ratio of 23.05, a P/E/G ratio of 1.82 and a beta of 1.78.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The firm had revenue of $351.90 million for the quarter, compared to the consensus estimate of $357.29 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue was up 5.0% on a year-over-year basis. sell-side analysts anticipate that Armstrong World Industries Inc will post 2.81 earnings per share for the current year.
Armstrong World Industries announced that its board has authorized a share repurchase plan on Monday, October 30th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, SVP Ellen R. Romano sold 33,087 shares of Armstrong World Industries stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total value of $1,809,197.16. Following the completion of the sale, the senior vice president now directly owns 14,769 shares in the company, valued at $807,568.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.
Several brokerages recently commented on AWI. Zacks Investment Research raised Armstrong World Industries from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, November 27th. SunTrust Banks reissued a “buy” rating and issued a $62.00 price target on shares of Armstrong World Industries in a research note on Wednesday, November 22nd. Royal Bank Of Canada lifted their price target on Armstrong World Industries from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 22nd. KeyCorp reissued a “hold” rating on shares of Armstrong World Industries in a research note on Tuesday, October 24th. Finally, Nomura set a $65.00 target price on Armstrong World Industries and gave the company a “buy” rating in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $55.14.
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About Armstrong World Industries
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.
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