Loomis Sayles & Co. L P Reduces Holdings in Armstrong World Industries Inc (AWI)

Loomis Sayles & Co. L P lowered its stake in Armstrong World Industries Inc (NYSE:AWI) by 21.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,883 shares of the construction company’s stock after selling 86,338 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.65% of Armstrong World Industries worth $22,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fox Run Management L.L.C. increased its stake in Armstrong World Industries by 48.3% in the 3rd quarter. Fox Run Management L.L.C. now owns 7,521 shares of the construction company’s stock worth $523,000 after purchasing an additional 2,451 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Armstrong World Industries by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 309,267 shares of the construction company’s stock valued at $19,546,000 after acquiring an additional 17,159 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Armstrong World Industries during the 2nd quarter valued at about $246,000. FMR LLC grew its stake in Armstrong World Industries by 67.4% during the 2nd quarter. FMR LLC now owns 669,670 shares of the construction company’s stock valued at $42,323,000 after acquiring an additional 269,670 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Armstrong World Industries by 157.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,136 shares of the construction company’s stock valued at $198,000 after acquiring an additional 1,916 shares in the last quarter. 97.07% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on AWI shares. Zacks Investment Research cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. KeyCorp raised Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 target price on the stock in a research note on Friday, November 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 target price on shares of Armstrong World Industries in a research note on Friday, November 2nd. SunTrust Banks reaffirmed a “positive” rating and set a $85.00 target price on shares of Armstrong World Industries in a research note on Friday, November 9th. Finally, Bank of America raised Armstrong World Industries from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $63.00 to $75.00 in a research note on Monday, November 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $73.00.

In related news, SVP Mark A. Hershey sold 35,773 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $70.03, for a total value of $2,505,183.19. Following the completion of the sale, the senior vice president now owns 38,516 shares of the company’s stock, valued at approximately $2,697,275.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark A. Hershey sold 2,217 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $70.04, for a total value of $155,278.68. Following the completion of the sale, the senior vice president now directly owns 38,516 shares of the company’s stock, valued at approximately $2,697,660.64. The disclosure for this sale can be found here. In the last three months, insiders sold 3,017,990 shares of company stock valued at $205,747,462. 1.94% of the stock is currently owned by company insiders.

NYSE:AWI opened at $65.35 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.35 and a current ratio of 1.46. Armstrong World Industries Inc has a fifty-two week low of $54.45 and a fifty-two week high of $73.45. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 0.99 and a beta of 1.78.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.06). The firm had revenue of $260.50 million during the quarter, compared to the consensus estimate of $252.96 million. Armstrong World Industries had a net margin of 19.46% and a return on equity of 45.95%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. As a group, equities analysts forecast that Armstrong World Industries Inc will post 3.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, December 4th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.70 annualized dividend and a dividend yield of 1.07%. Armstrong World Industries’s payout ratio is 23.18%.

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

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