Municipal Employees Retirement System of Michigan Takes Position in Armstrong Flooring, Inc. (AFI)

Municipal Employees Retirement System of Michigan purchased a new position in shares of Armstrong Flooring, Inc. (NYSE:AFI) during the second quarter, Holdings Channel reports. The fund purchased 41,280 shares of the construction company’s stock, valued at approximately $742,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AFI. Strs Ohio boosted its position in shares of Armstrong Flooring by 1.9% in the second quarter. Strs Ohio now owns 37,700 shares of the construction company’s stock worth $677,000 after buying an additional 700 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Armstrong Flooring by 46.9% in the second quarter. Russell Investments Group Ltd. now owns 771,147 shares of the construction company’s stock worth $13,856,000 after buying an additional 246,357 shares during the period. Finally, Kirr Marbach & Co. LLC IN boosted its position in shares of Armstrong Flooring by 47.6% in the second quarter. Kirr Marbach & Co. LLC IN now owns 24,490 shares of the construction company’s stock worth $440,000 after buying an additional 7,900 shares during the period.

Shares of Armstrong Flooring, Inc. (AFI) opened at 14.33 on Wednesday. The company has a market capitalization of $388.13 million, a price-to-earnings ratio of 651.36 and a beta of 4.45. Armstrong Flooring, Inc. has a 1-year low of $13.76 and a 1-year high of $22.96. The firm’s 50-day moving average is $17.09 and its 200-day moving average is $18.80.

Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Monday, August 7th. The construction company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.12. The firm had revenue of $297.30 million for the quarter, compared to analysts’ expectations of $324.63 million. Armstrong Flooring had a negative net margin of 0.03% and a positive return on equity of 1.99%. Armstrong Flooring’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts forecast that Armstrong Flooring, Inc. will post $0.24 earnings per share for the current fiscal year.

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A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 price target on shares of Armstrong Flooring in a research report on Monday, August 7th. Nomura reissued a “neutral” rating on shares of Armstrong Flooring in a research report on Tuesday, August 8th. Finally, Gabelli cut shares of Armstrong Flooring from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.50.

About Armstrong Flooring

Armstrong Flooring, Inc produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. It operates through two segments: Resilient Flooring and Wood Flooring.

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Institutional Ownership by Quarter for Armstrong Flooring (NYSE:AFI)

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