Piedmont Investment Advisors Inc. Invests $245,000 in Armstrong World Industries Inc (NYSE:AWI)

Piedmont Investment Advisors Inc. acquired a new stake in Armstrong World Industries Inc (NYSE:AWI) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,081 shares of the construction company’s stock, valued at approximately $245,000.

Other large investors also recently added to or reduced their stakes in the company. Gates Capital Management Inc. grew its stake in shares of Armstrong World Industries by 3.1% during the fourth quarter. Gates Capital Management Inc. now owns 1,666,725 shares of the construction company’s stock valued at $97,020,000 after acquiring an additional 50,113 shares in the last quarter. Cantillon Capital Management LLC grew its stake in Armstrong World Industries by 25.4% in the fourth quarter. Cantillon Capital Management LLC now owns 1,342,551 shares of the construction company’s stock worth $78,150,000 after purchasing an additional 271,962 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Armstrong World Industries by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,301,884 shares of the construction company’s stock worth $75,782,000 after purchasing an additional 22,959 shares in the last quarter. FMR LLC grew its stake in Armstrong World Industries by 30.2% in the fourth quarter. FMR LLC now owns 801,756 shares of the construction company’s stock worth $46,670,000 after purchasing an additional 185,843 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its stake in Armstrong World Industries by 4.8% in the fourth quarter. Beck Mack & Oliver LLC now owns 704,285 shares of the construction company’s stock worth $40,996,000 after purchasing an additional 32,237 shares in the last quarter.

Armstrong World Industries stock traded down $0.62 during mid-day trading on Friday, hitting $97.20. The company’s stock had a trading volume of 930,200 shares, compared to its average volume of 488,055. Armstrong World Industries Inc has a twelve month low of $54.34 and a twelve month high of $99.27. The company has a quick ratio of 1.15, a current ratio of 1.27 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $4.73 billion, a PE ratio of 26.56, a P/E/G ratio of 1.12 and a beta of 1.70. The firm’s fifty day simple moving average is $91.80.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.15. Armstrong World Industries had a net margin of 19.92% and a return on equity of 63.92%. The firm had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $247.38 million. During the same period in the previous year, the company posted $0.79 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Armstrong World Industries Inc will post 4.55 earnings per share for the current year.

In other news, VP Stephen F. Mcnamara sold 7,778 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $87.26, for a total transaction of $678,708.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ellen R. Romano sold 6,500 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $88.21, for a total transaction of $573,365.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,188 shares of company stock worth $6,804,574. 1.70% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on the company. KeyCorp lifted their price target on Armstrong World Industries from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Nomura lifted their target price on Armstrong World Industries from $78.00 to $92.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. SunTrust Banks lifted their price target on Armstrong World Industries to $109.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. They noted that the move was a valuation call. Deutsche Bank reaffirmed a “buy” rating and set a $107.00 price target on shares of Armstrong World Industries in a report on Monday. Finally, Bank of America lifted their price target on Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.23.

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 in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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

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