Holdings L.P. Valueact Sells 456,000 Shares of Armstrong World Industries Inc (AWI) Stock
Armstrong World Industries Inc (NYSE:AWI) Director Holdings L.P. Valueact sold 456,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $73.25, for a total value of $33,402,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of AWI stock opened at $72.49 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market capitalization of $3.56 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.01 and a beta of 1.83. Armstrong World Industries Inc has a 1 year low of $54.34 and a 1 year high of $75.67.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Monday, February 25th. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $238.90 million during the quarter, compared to the consensus estimate of $239.46 million. Armstrong World Industries had a net margin of 19.06% and a return on equity of 54.86%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, analysts predict that Armstrong World Industries Inc will post 4.46 earnings per share for the current year.
Several hedge funds have recently modified their holdings of AWI. Macquarie Group Ltd. acquired a new position in Armstrong World Industries during the fourth quarter valued at approximately $29,000. Oppenheimer Asset Management Inc. acquired a new position in Armstrong World Industries during the fourth quarter valued at approximately $38,000. Captrust Financial Advisors raised its position in Armstrong World Industries by 13.4% during the fourth quarter. Captrust Financial Advisors now owns 2,604 shares of the construction company’s stock valued at $152,000 after purchasing an additional 308 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Armstrong World Industries during the third quarter valued at approximately $196,000. Finally, WINTON GROUP Ltd acquired a new position in Armstrong World Industries during the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
A number of brokerages have recently issued reports on AWI. Nomura set a $73.00 price objective on Armstrong World Industries and gave the stock a “buy” rating in a report on Tuesday, February 26th. KeyCorp boosted their price target on Armstrong World Industries from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, February 26th. ValuEngine upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Bank of America boosted their price target on Armstrong World Industries from $84.00 to $87.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zelman & Associates upgraded Armstrong World Industries from a “sell” rating to a “hold” rating and set a $73.05 price target for the company in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Armstrong World Industries currently has a consensus rating of “Hold” and an average price target of $76.88.
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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