Quantbot Technologies LP Takes $1.09 Million Position in Armstrong World Industries Inc (AWI)

Quantbot Technologies LP purchased a new position in Armstrong World Industries Inc (NYSE:AWI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,694 shares of the construction company’s stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AWI. Cantillon Capital Management LLC purchased a new stake in Armstrong World Industries in the second quarter worth about $72,722,000. Prudential Financial Inc. increased its position in Armstrong World Industries by 2,659.0% in the third quarter. Prudential Financial Inc. now owns 543,032 shares of the construction company’s stock worth $37,795,000 after buying an additional 523,350 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its position in Armstrong World Industries by 176.5% in 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 in the last quarter. FMR LLC increased its position in Armstrong World Industries by 67.4% in 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 in the last quarter. Finally, BlackRock Inc. increased its position in Armstrong World Industries by 4.8% in the second quarter. BlackRock Inc. now owns 2,081,296 shares of the construction company’s stock worth $131,536,000 after buying an additional 95,662 shares in the last quarter. Institutional investors and hedge funds own 97.07% of the company’s stock.

AWI has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on Armstrong World Industries in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $70.00 price target for the company. Bank of America upgraded Armstrong World Industries from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $63.00 to $75.00 in a research report on Monday, November 12th. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 target price on shares of Armstrong World Industries in a research report on Friday, November 2nd. SunTrust Banks reiterated a “positive” rating and set a $85.00 target price on shares of Armstrong World Industries in a research report on Friday, November 9th. Finally, KeyCorp upgraded Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 target price for the company in a research report on Friday, November 2nd. One investment 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 stock has a consensus rating of “Hold” and an average target price of $73.00.

In related news, SVP Mark A. Hershey sold 35,773 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $70.03, for a total transaction of $2,505,183.19. Following the completion of the transaction, the senior vice president now directly owns 38,516 shares of the company’s stock, valued at $2,697,275.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark A. Hershey sold 2,217 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $70.04, for a total value of $155,278.68. Following the transaction, the senior vice president now directly owns 38,516 shares of the company’s stock, valued at $2,697,660.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,017,990 shares of company stock valued at $205,747,462. 1.94% of the stock is owned by corporate insiders.

NYSE:AWI opened at $67.92 on Tuesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.46 and a quick ratio of 1.35. Armstrong World Industries Inc has a 12-month low of $54.45 and a 12-month high of $73.45. The stock has a market cap of $3.32 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.02 and a beta of 1.78.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). Armstrong World Industries had a net margin of 19.46% and a return on equity of 45.95%. The firm had revenue of $260.50 million for the quarter, compared to the consensus estimate of $252.96 million. During the same period in the previous year, the company posted $0.90 earnings per share. Armstrong World Industries’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Armstrong World Industries Inc will post 3.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, December 4th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Monday, December 3rd.

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Armstrong World Industries Company Profile

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.

Further Reading: Insider Trading

Want to see what other hedge funds are holding AWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Armstrong World Industries Inc (NYSE:AWI).

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

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