Gideon Capital Advisors Inc. bought a new stake in Armstrong World Industries Inc (NYSE:AWI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,966 shares of the construction company’s stock, valued at approximately $276,000.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Armstrong World Industries by 4.8% in the second quarter. BlackRock Inc. now owns 2,081,296 shares of the construction company’s stock valued at $131,536,000 after purchasing an additional 95,662 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Armstrong World Industries by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,270,474 shares of the construction company’s stock worth $80,293,000 after buying an additional 6,203 shares during the last quarter. Cantillon Capital Management LLC purchased a new stake in Armstrong World Industries during the second quarter worth about $72,722,000. FMR LLC increased its holdings in Armstrong World Industries by 67.4% during the second quarter. FMR LLC now owns 669,670 shares of the construction company’s stock worth $42,323,000 after buying an additional 269,670 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Armstrong World Industries by 176.5% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 597,863 shares of the construction company’s stock worth $41,611,000 after buying an additional 381,602 shares during the last quarter.
A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Goldman Sachs Group assumed coverage on shares of Armstrong World Industries in a report on Tuesday, October 2nd. They set a “neutral” rating and a $70.00 price objective for the company. Bank of America upgraded shares of Armstrong World Industries from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $75.00 in a report on Monday, November 12th. SunTrust Banks restated a “positive” rating and set a $85.00 price objective on shares of Armstrong World Industries in a report on Friday, November 9th. Finally, Jefferies Financial Group restated a “hold” rating and set a $70.00 price objective on shares of Armstrong World Industries in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $73.00.
Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 30th. The construction company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.06). The business had revenue of $260.50 million during the quarter, compared to analysts’ expectations of $252.96 million. Armstrong World Industries had a return on equity of 45.95% and a net margin of 19.46%. Armstrong World Industries’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. On average, equities research analysts anticipate that Armstrong World Industries Inc will post 3.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, December 4th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.70 annualized dividend and a dividend yield of 1.04%.
In other news, SVP Mark A. Hershey sold 35,773 shares of Armstrong World Industries stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $70.03, for a total value of $2,505,183.19. Following the completion of the transaction, the senior vice president now owns 38,516 shares in the company, valued at $2,697,275.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark A. Hershey sold 2,217 shares of Armstrong World Industries stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $70.04, for a total transaction of $155,278.68. Following the completion of the transaction, the senior vice president now owns 38,516 shares of the company’s stock, valued at approximately $2,697,660.64. The disclosure for this sale can be found here. Insiders sold 3,017,990 shares of company stock valued at $205,747,462 in the last quarter. Corporate insiders own 1.94% of the company’s stock.
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About Armstrong World Industries
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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