JPMorgan Chase & Co. Boosts Holdings in Armstrong Flooring Inc (NYSE:AFI)

JPMorgan Chase & Co. raised its stake in Armstrong Flooring Inc (NYSE:AFI) by 276.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,485 shares of the construction company’s stock after purchasing an additional 59,082 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Armstrong Flooring worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AFI. Schwab Charles Investment Management Inc. grew its stake in Armstrong Flooring by 40.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,850 shares of the construction company’s stock worth $2,352,000 after buying an additional 37,543 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Armstrong Flooring by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 28,206 shares of the construction company’s stock valued at $507,000 after purchasing an additional 470 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Armstrong Flooring by 138.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,800 shares of the construction company’s stock valued at $158,000 after purchasing an additional 5,102 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Armstrong Flooring by 3,131.5% in the 2nd quarter. Wells Fargo & Company MN now owns 512,971 shares of the construction company’s stock valued at $9,219,000 after purchasing an additional 497,097 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Armstrong Flooring by 34.9% in the 2nd quarter. Alliancebernstein L.P. now owns 19,710 shares of the construction company’s stock valued at $354,000 after purchasing an additional 5,100 shares during the last quarter. 98.70% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on AFI shares. SunTrust Banks reiterated a “hold” rating and issued a $15.00 target price on shares of Armstrong Flooring in a research note on Friday, November 3rd. Zacks Investment Research upgraded Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, TheStreet upgraded Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.33.

Armstrong Flooring Inc (NYSE:AFI) traded down $0.60 during midday trading on Friday, hitting $14.88. The stock had a trading volume of 50,719 shares, compared to its average volume of 72,196. Armstrong Flooring Inc has a 12 month low of $13.32 and a 12 month high of $22.96. The firm has a market capitalization of $398.48 and a PE ratio of 64.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 2.66.

Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.07). The company had revenue of $308.50 million during the quarter, compared to analyst estimates of $294.68 million. Armstrong Flooring had a positive return on equity of 1.06% and a negative net margin of 2.40%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. analysts forecast that Armstrong Flooring Inc will post 0.15 EPS for the current fiscal year.

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About Armstrong Flooring

Armstrong Flooring, Inc produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. It operates through two segments: Resilient Flooring and Wood Flooring.

Institutional Ownership by Quarter for Armstrong Flooring (NYSE:AFI)

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