Today: The Armstrong World Industries Inc. (AWI) Posts Quarterly Earnings Results, Hits Estimates

The Armstrong World Industries Inc. (AWI) Posts Quarterly  Earnings Results, Hits Estimates

Armstrong World Industries Inc. (NYSE:AWI) released its quarterly earnings results on Monday. The company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. The business had revenue of $334.90 million for the quarter, compared to analysts’ expectations of $343.50 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%.

Shares of Armstrong World Industries (NYSE:AWI) opened at 39.75 on Monday. Armstrong World Industries has a 1-year low of $35.92 and a 1-year high of $52.09. The company has a 50-day moving average price of $40.66 and a 200-day moving average price of $41.23. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 88.53 and a beta of 1.50.

In other Armstrong World Industries news, VP Stephen F. Mcnamara sold 2,274 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $45.00, for a total value of $102,330.00. Following the transaction, the vice president now owns 5,242 shares of the company’s stock, valued at $235,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Armstrong World Industries by 11.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,389,051 shares of the company’s stock worth $54,381,000 after buying an additional 142,411 shares in the last quarter. Advisor Group Inc. acquired a new position in shares of Armstrong World Industries during the second quarter worth about $263,000. Rhumbline Advisers boosted its position in shares of Armstrong World Industries by 6.7% in the second quarter. Rhumbline Advisers now owns 34,248 shares of the company’s stock worth $1,341,000 after buying an additional 2,152 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of Armstrong World Industries by 44.2% in the second quarter. Teachers Advisors Inc. now owns 47,826 shares of the company’s stock worth $1,872,000 after buying an additional 14,652 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Armstrong World Industries by 10.2% in the second quarter. State of Wisconsin Investment Board now owns 30,227 shares of the company’s stock worth $1,183,000 after buying an additional 2,800 shares in the last quarter. 99.80% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on AWI shares. Stephens started coverage on Armstrong World Industries in a report on Friday, July 8th. They issued an “equal weight” rating on the stock. Goldman Sachs Group Inc. cut Armstrong World Industries from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $38.00 to $34.00 in a report on Monday, July 11th. Zacks Investment Research upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, July 20th. Royal Bank Of Canada upped their price target on Armstrong World Industries from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, August 1st. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $47.00 price target (up previously from $45.00) on shares of Armstrong World Industries in a report on Monday, August 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.45.

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