Armstrong World Industries Inc (AWI) Position Boosted by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Armstrong World Industries Inc (NYSE:AWI) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,500 shares of the construction company’s stock after buying an additional 1,600 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Armstrong World Industries were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Armstrong World Industries by 14.1% during the second quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock worth $106,000 after buying an additional 286 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Armstrong World Industries by 239.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock worth $128,000 after buying an additional 1,964 shares during the last quarter. SG Americas Securities LLC acquired a new position in Armstrong World Industries during the second quarter worth $149,000. BNP Paribas Arbitrage SA increased its holdings in Armstrong World Industries by 65.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock worth $162,000 after buying an additional 1,391 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Armstrong World Industries during the third quarter worth $193,000.

A number of equities analysts recently weighed in on AWI shares. ValuEngine upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Monday, July 10th. BidaskClub downgraded shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet upgraded shares of Armstrong World Industries from a “c+” rating to a “b” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG upped their price objective on shares of Armstrong World Industries from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.00.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, October 30th. The construction company reported $0.86 EPS for the quarter, missing the consensus estimate 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 company had revenue of $351.90 million during the quarter, compared to the consensus estimate of $357.29 million. During the same quarter in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Armstrong World Industries declared that its Board of Directors has approved a stock repurchase program on Monday, October 30th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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Armstrong World Industries Company 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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