California State Teachers Retirement System Decreases Holdings in Armstrong World Industries Inc (AWI)

California State Teachers Retirement System decreased its stake in shares of Armstrong World Industries Inc (NYSE:AWI) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 70,995 shares of the construction company’s stock after selling 7,557 shares during the period. California State Teachers Retirement System owned 0.13% of Armstrong World Industries worth $3,638,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AWI. Royal Bank of Canada raised its position in shares of Armstrong World Industries by 921.2% in the 2nd quarter. Royal Bank of Canada now owns 6,444 shares of the construction company’s stock valued at $296,000 after buying an additional 5,813 shares in the last quarter. Legal & General Group Plc raised its position in shares of Armstrong World Industries by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 63,868 shares of the construction company’s stock valued at $3,275,000 after buying an additional 2,130 shares in the last quarter. Alps Advisors Inc. acquired a new position in Armstrong World Industries during the 3rd quarter worth approximately $494,000. Vanguard Group Inc. increased its position in Armstrong World Industries by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,491,622 shares of the construction company’s stock worth $160,614,000 after purchasing an additional 51,135 shares in the last quarter. Finally, State Street Corp increased its position in Armstrong World Industries by 3.3% during the 2nd quarter. State Street Corp now owns 1,014,984 shares of the construction company’s stock worth $46,689,000 after purchasing an additional 32,325 shares in the last quarter.

Shares of Armstrong World Industries Inc (NYSE:AWI) opened at $62.80 on Monday. Armstrong World Industries Inc has a 1-year low of $38.45 and a 1-year high of $64.60. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 2.25. The company has a market cap of $3,321.42, a PE ratio of 22.92, a PEG ratio of 1.73 and a beta of 1.78.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $357.29 million. Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. sell-side analysts expect that Armstrong World Industries Inc will post 2.85 EPS for the current year.

Armstrong World Industries declared that its board has approved a share repurchase plan on Monday, October 30th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other Armstrong World Industries news, SVP Ellen R. Romano sold 33,087 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total transaction of $1,809,197.16. Following the completion of the transaction, the senior vice president now owns 14,769 shares in the company, valued at $807,568.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

A number of research firms recently issued reports on AWI. Jefferies Group initiated coverage on shares of Armstrong World Industries in a research report on Tuesday, December 12th. They set a “hold” rating and a $62.00 price objective for the company. Zacks Investment Research raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, November 27th. SunTrust Banks reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, November 22nd. Royal Bank of Canada upped their price objective on shares of Armstrong World Industries from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 22nd. Finally, Nomura set a $65.00 target price on shares of Armstrong World Industries and gave the stock a “buy” rating in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Armstrong World Industries presently has an average rating of “Hold” and a consensus target price of $56.00.

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Armstrong World Industries 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.

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

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