Allianz Asset Management AG reduced its stake in shares of Armstrong World Industries Inc (NYSE:AWI) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,941 shares of the construction company’s stock after selling 764 shares during the period. Allianz Asset Management AG’s holdings in Armstrong World Industries were worth $457,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Independent Portfolio Consultants Inc. bought a new stake in shares of Armstrong World Industries during the third quarter valued at $152,000. Foster Dykema Cabot & Co. Inc. MA bought a new stake in shares of Armstrong World Industries during the third quarter valued at $207,000. Weiss Asset Management LP bought a new stake in shares of Armstrong World Industries during the third quarter valued at $240,000. Canada Pension Plan Investment Board boosted its stake in shares of Armstrong World Industries by 6,300.0% in the third quarter. Canada Pension Plan Investment Board now owns 6,400 shares of the construction company’s stock valued at $264,000 after buying an additional 6,300 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Armstrong World Industries by 22.3% in the third quarter. Advisor Group Inc. now owns 8,273 shares of the construction company’s stock valued at $342,000 after buying an additional 1,509 shares during the last quarter.
Armstrong World Industries Inc (NYSE:AWI) traded down 0.53% during mid-day trading on Friday, reaching $46.75. The company’s stock had a trading volume of 344,824 shares. The company’s 50-day moving average price is $45.66 and its 200 day moving average price is $41.98. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.95 and a beta of 1.38. Armstrong World Industries Inc has a 52 week low of $36.33 and a 52 week high of $48.00.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, February 27th. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Armstrong World Industries had a net margin of 3.55% and a return on equity of 22.79%. The company had revenue of $297.90 million for the quarter, compared to the consensus estimate of $302.28 million. During the same period last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast that Armstrong World Industries Inc will post $2.63 earnings per share for the current fiscal year.
Several brokerages have weighed in on AWI. Instinet reissued a “buy” rating and set a $55.00 price objective on shares of Armstrong World Industries in a research note on Friday, April 14th. Nomura began coverage on Armstrong World Industries in a research report on Wednesday, April 12th. They set a “buy” rating and a $55.00 target price for the company. Finally, Royal Bank of Canada restated a “hold” rating and set a $50.00 target price on shares of Armstrong World Industries in a research report on Tuesday, February 28th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Armstrong World Industries currently has a consensus rating of “Hold” and an average price target of $43.50.
Armstrong World Industries Company 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.
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