Armstrong Flooring Inc (NYSE:AFI) Director Sells $37,739,167.50 in Stock

Armstrong Flooring Inc (NYSE:AFI) Director Holdings L.P. Valueact sold 3,399,925 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $11.10, for a total transaction of $37,739,167.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE AFI traded up $0.02 during mid-day trading on Friday, reaching $9.76. 139,588 shares of the stock were exchanged, compared to its average volume of 347,462. Armstrong Flooring Inc has a 1-year low of $9.43 and a 1-year high of $20.46. The firm’s fifty day simple moving average is $10.64. The firm has a market capitalization of $253.18 million, a PE ratio of 44.36 and a beta of 2.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.64 and a quick ratio of 1.36.

Armstrong Flooring (NYSE:AFI) last announced its earnings results on Friday, May 3rd. The construction company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.29). The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $161.32 million. Armstrong Flooring had a positive return on equity of 0.45% and a negative net margin of 18.58%. The firm’s revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS. On average, analysts forecast that Armstrong Flooring Inc will post -0.3 EPS for the current fiscal year.

AFI has been the topic of a number of research analyst reports. Gabelli raised Phibro Animal Health from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, May 8th. They noted that the move was a valuation call. TheStreet cut shares of Urban Outfitters from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. Finally, Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.20.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kennedy Capital Management Inc. lifted its holdings in shares of Armstrong Flooring by 4.0% during the first quarter. Kennedy Capital Management Inc. now owns 377,094 shares of the construction company’s stock worth $5,128,000 after buying an additional 14,370 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Armstrong Flooring by 87.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 31,537 shares of the construction company’s stock valued at $429,000 after purchasing an additional 14,723 shares in the last quarter. Royce & Associates LP acquired a new position in Armstrong Flooring in the first quarter valued at about $31,000. Raymond James & Associates raised its stake in Armstrong Flooring by 51.3% in the first quarter. Raymond James & Associates now owns 318,773 shares of the construction company’s stock valued at $4,335,000 after purchasing an additional 108,054 shares in the last quarter. Finally, River Road Asset Management LLC raised its stake in Armstrong Flooring by 2.5% in the first quarter. River Road Asset Management LLC now owns 889,182 shares of the construction company’s stock valued at $12,093,000 after purchasing an additional 21,860 shares in the last quarter. Institutional investors own 98.37% of the company’s stock.

About Armstrong Flooring

Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells resilient flooring products for use primarily in the construction and renovation of commercial, residential, and institutional buildings in North America and the Pacific Rim. The company sells its products to independent wholesale flooring distributors, retailers, builders, contractors, installers, property management firms, homeowners, and others.

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