Balter Liquid Alternatives LLC increased its stake in shares of Armstrong World Industries Inc (NYSE:AWI) by 28.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,669 shares of the construction company’s stock after buying an additional 9,577 shares during the period. Armstrong World Industries comprises 2.3% of Balter Liquid Alternatives LLC’s holdings, making the stock its 10th largest position. Balter Liquid Alternatives LLC owned approximately 0.08% of Armstrong World Industries worth $1,963,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in Armstrong World Industries by 10,381.5% in the first quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock valued at $88,541,000 after buying an additional 1,904,378 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in Armstrong World Industries by 20.4% in the first quarter. Iridian Asset Management LLC CT now owns 4,413,715 shares of the construction company’s stock valued at $203,252,000 after buying an additional 746,618 shares during the last quarter. Beck Mack & Oliver LLC acquired a new stake in Armstrong World Industries during the first quarter valued at $30,743,000. Renaissance Technologies LLC acquired a new stake in Armstrong World Industries during the first quarter valued at $13,852,000. Finally, Goldman Sachs Group Inc. boosted its stake in Armstrong World Industries by 62.1% in the first quarter. Goldman Sachs Group Inc. now owns 588,468 shares of the construction company’s stock valued at $27,099,000 after buying an additional 225,402 shares during the last quarter.
Armstrong World Industries Inc (NYSE:AWI) opened at 45.30 on Friday. The stock’s 50 day moving average is $45.95 and its 200 day moving average is $44.90. The firm has a market capitalization of $2.40 billion, a P/E ratio of 14.71 and a beta of 1.65. Armstrong World Industries Inc has a one year low of $36.38 and a one year high of $49.55.
Armstrong World Industries (NYSE:AWI) last posted its earnings results on Monday, July 31st. The construction company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. The company had revenue of $330.80 million during the quarter, compared to analysts’ expectations of $330.92 million. Armstrong World Industries had a net margin of 13.24% and a return on equity of 49.73%. Armstrong World Industries’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. On average, equities research analysts predict that Armstrong World Industries Inc will post $2.72 earnings per share for the current fiscal year.
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Several research firms have weighed in on AWI. Zacks Investment Research cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. ValuEngine cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “sector perform” rating and set a $50.00 target price on shares of Armstrong World Industries in a research note on Thursday, June 15th. Finally, BidaskClub upgraded Armstrong World Industries from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Armstrong World Industries currently has a consensus rating of “Hold” and an average target price of $45.43.
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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