Parametric Portfolio Associates LLC Grows Holdings in Armstrong World Industries Inc (NYSE:AWI)

Parametric Portfolio Associates LLC raised its position in Armstrong World Industries Inc (NYSE:AWI) by 6.1% during the 1st quarter, HoldingsChannel reports. The fund owned 127,280 shares of the construction company’s stock after buying an additional 7,374 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Armstrong World Industries were worth $10,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AWI. Macquarie Group Ltd. bought a new stake in Armstrong World Industries in the 4th quarter valued at approximately $29,000. Oppenheimer Asset Management Inc. bought a new stake in Armstrong World Industries in the 4th quarter valued at approximately $38,000. Quadrant Capital Group LLC bought a new stake in Armstrong World Industries in the 1st quarter valued at approximately $52,000. Captrust Financial Advisors lifted its stake in Armstrong World Industries by 13.4% in the 4th quarter. Captrust Financial Advisors now owns 2,604 shares of the construction company’s stock valued at $152,000 after acquiring an additional 308 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Armstrong World Industries in the 1st quarter valued at approximately $212,000.

In other news, insider Valueact Capital Master Fund, sold 63,910 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $86.88, for a total transaction of $5,552,500.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ellen R. Romano sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $88.21, for a total value of $573,365.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,188 shares of company stock worth $6,804,574. Company insiders own 1.70% of the company’s stock.

Several equities research analysts have commented on the company. Bank of America boosted their target price on Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp boosted their target price on Armstrong World Industries from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Nomura boosted 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. Zelman & Associates cut Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $95.00 target price on shares of Armstrong World Industries in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $87.51.

Shares of Armstrong World Industries stock opened at $95.16 on Friday. Armstrong World Industries Inc has a 12-month low of $54.34 and a 12-month high of $97.43. The company has a market cap of $4.65 billion, a PE ratio of 26.00, a P/E/G ratio of 1.10 and a beta of 1.70. The company has a current ratio of 1.27, a quick ratio of 1.15 and a debt-to-equity ratio of 2.67.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Monday, April 29th. The construction company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Armstrong World Industries had a return on equity of 63.92% and a net margin of 19.92%. The company had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $247.38 million. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Armstrong World Industries Inc will post 4.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 19.13%.

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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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Want to see what other hedge funds are holding AWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Armstrong World Industries Inc (NYSE:AWI).

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

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