First National Bank Sioux Falls acquired a new stake in shares of Armstrong World Industries Inc (NYSE:AWI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,531 shares of the construction company’s stock, valued at approximately $214,000.
Several other hedge funds and other institutional investors also recently modified their holdings of AWI. JPMorgan Chase & Co. grew 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 acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. grew 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 acquiring an additional 1,964 shares during the period. SG Americas Securities LLC acquired a new position in Armstrong World Industries during the second quarter worth about $149,000. BNP Paribas Arbitrage SA grew 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 acquiring an additional 1,391 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Armstrong World Industries during the third quarter worth about $193,000.
Shares of Armstrong World Industries Inc (AWI) traded down $1.10 during trading on Thursday, hitting $62.65. The stock had a trading volume of 397,800 shares, compared to its average volume of 409,671. Armstrong World Industries Inc has a fifty-two week low of $38.45 and a fifty-two week high of $64.60. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 2.25. The firm has a market cap of $3,380.00, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.78.
Armstrong World Industries declared that its Board of Directors has approved a stock buyback program on Monday, October 30th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
AWI has been the topic of a number of analyst reports. KeyCorp reissued a “hold” rating on shares of Armstrong World Industries in a research note on Friday, September 22nd. Citigroup lifted their price target on Armstrong World Industries from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. SunTrust Banks reissued a “buy” rating and issued a $55.00 price target on shares of Armstrong World Industries in a research note on Wednesday, November 1st. Royal Bank of Canada reissued a “hold” rating and issued a $55.00 price target on shares of Armstrong World Industries in a research note on Wednesday, November 15th. Finally, Nomura set a $65.00 target price on Armstrong World Industries and gave the company a “buy” rating in a research note on Tuesday, November 21st. One 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. Armstrong World Industries presently has a consensus rating of “Hold” and a consensus price target of $56.00.
In related news, SVP Ellen R. Romano sold 33,087 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $54.68, for a total value of $1,809,197.16. Following the completion of the sale, the senior vice president now directly owns 14,769 shares in the company, valued at approximately $807,568.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
About Armstrong World Industries
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.
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