Armstrong World Industries Inc (AWI) Stake Lowered by Stockbridge Partners LLC

Stockbridge Partners LLC decreased its position in shares of Armstrong World Industries Inc (NYSE:AWI) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,215,943 shares of the construction company’s stock after selling 397,498 shares during the quarter. Armstrong World Industries accounts for 5.7% of Stockbridge Partners LLC’s portfolio, making the stock its 8th largest position. Stockbridge Partners LLC owned about 4.19% of Armstrong World Industries worth $113,567,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Armstrong World Industries by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock worth $106,000 after acquiring an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Armstrong World Industries by 239.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock worth $128,000 after acquiring an additional 1,964 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Armstrong World Industries during the 2nd quarter worth approximately $149,000. BNP Paribas Arbitrage SA raised its stake in shares of Armstrong World Industries by 65.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock worth $162,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Armstrong World Industries during the 3rd quarter worth approximately $193,000.

In other news, SVP Ellen R. Romano sold 33,087 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $54.68, for a total transaction of $1,809,197.16. Following the transaction, the senior vice president now directly owns 14,769 shares of the company’s stock, valued at $807,568.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Several analysts have weighed in on AWI shares. BidaskClub downgraded shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 target price on shares of Armstrong World Industries in a research note on Tuesday, August 29th. KeyCorp reaffirmed a “hold” rating on shares of Armstrong World Industries in a report on Friday, September 22nd. Citigroup raised their target price on shares of Armstrong World Industries from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, October 20th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 target price on shares of Armstrong World Industries in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Armstrong World Industries has a consensus rating of “Hold” and a consensus price target of $55.14.

Armstrong World Industries Inc (NYSE AWI) opened at $57.90 on Thursday. The company has a market capitalization of $3,086.06, a P/E ratio of 22.53, a PEG ratio of 1.77 and a beta of 1.78. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.41 and a current ratio of 1.98. Armstrong World Industries Inc has a one year low of $38.45 and a one year high of $60.25.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The firm had revenue of $351.90 million for the quarter, compared to analyst estimates of $357.29 million. During the same period in the prior year, the company posted $0.99 earnings per share. The business’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 declared that its Board of Directors has authorized a stock buyback plan on Monday, October 30th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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Armstrong World Industries 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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