Today: Today, Independent Portfolio Consultants Inc. Buys 3,675 Shares of Armstrong World Industries Inc. (AWI)

Today, Independent Portfolio Consultants Inc. Buys 3,675  Shares of Armstrong World Industries Inc. (AWI)

Independent Portfolio Consultants Inc. purchased a new position in shares of Armstrong World Industries Inc. (NYSE:AWI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,675 shares of the company’s stock, valued at approximately $152,000.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Armstrong World Industries by 884.5% in the second quarter. Royal Bank of Canada now owns 8,575 shares of the company’s stock worth $336,000 after buying an additional 7,704 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Armstrong World Industries by 38.7% in the second quarter. Public Employees Retirement System of Ohio now owns 9,715 shares of the company’s stock worth $380,000 after buying an additional 2,711 shares during the period. Balter Liquid Alternatives LLC boosted its stake in Armstrong World Industries by 326.4% in the second quarter. Balter Liquid Alternatives LLC now owns 36,960 shares of the company’s stock worth $1,447,000 after buying an additional 28,292 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Armstrong World Industries by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 184,868 shares of the company’s stock worth $7,238,000 after buying an additional 8,006 shares during the period. Finally, Amalgamated Bank boosted its stake in Armstrong World Industries by 21.9% in the second quarter. Amalgamated Bank now owns 5,610 shares of the company’s stock worth $250,000 after buying an additional 1,006 shares during the period. Institutional investors own 99.51% of the company’s stock.

Shares of Armstrong World Industries Inc. (NYSE:AWI) traded up 0.96% during mid-day trading on Friday, reaching $42.15. 166,393 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $39.69 and a 200-day moving average price of $40.89. Armstrong World Industries Inc. has a 12 month low of $35.92 and a 12 month high of $50.15. The stock has a market cap of $2.33 billion, a PE ratio of 37.14 and a beta of 1.37.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, October 31st. The company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business earned $334.90 million during the quarter, compared to the consensus estimate of $343.50 million. Armstrong World Industries had a net margin of 3.55% and a return on equity of 22.79%. Armstrong World Industries’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, analysts predict that Armstrong World Industries Inc. will post $2.25 earnings per share for the current fiscal year.

A number of brokerages have recently commented on AWI. Zacks Investment Research raised shares of Armstrong World Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $47.00 price objective (up previously from $45.00) on shares of Armstrong World Industries in a research report on Monday, August 1st. Royal Bank Of Canada cut their price objective on shares of Armstrong World Industries from $47.00 to $43.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 1st. KeyCorp raised shares of Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research report on Friday, August 5th. Finally, Evercore ISI began coverage on shares of Armstrong World Industries in a research report on Monday, November 14th. They set a “buy” rating and a $46.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.92.

In related news, Director Roy W. Templin bought 2,670 shares of Armstrong World Industries stock in a transaction that occurred on Wednesday, November 2nd. The stock was acquired at an average price of $37.16 per share, with a total value of $99,217.20. Following the acquisition, the director now owns 4,816 shares of the company’s stock, valued at approximately $178,962.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

About Armstrong World Industries

Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.

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