Insider Selling: Armstrong World Industries Inc (AWI) SVP Sells $2,505,183.19 in Stock

Armstrong World Industries Inc (NYSE:AWI) SVP Mark A. Hershey sold 35,773 shares of Armstrong World Industries stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $70.03, for a total value of $2,505,183.19. Following the completion of the sale, the senior vice president now directly owns 38,516 shares in the company, valued at approximately $2,697,275.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NYSE AWI opened at $70.15 on Thursday. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.74. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.01 and a current ratio of 2.24. Armstrong World Industries Inc has a twelve month low of $49.25 and a twelve month high of $73.45.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, July 31st. The construction company reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $248.60 million for the quarter, compared to the consensus estimate of $245.81 million. Armstrong World Industries had a return on equity of 41.92% and a net margin of 15.18%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. analysts anticipate that Armstrong World Industries Inc will post 3.74 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flinton Capital Management LLC acquired a new position in Armstrong World Industries during the first quarter worth approximately $102,000. Sun Life Financial INC acquired a new position in Armstrong World Industries during the second quarter worth approximately $108,000. Riverhead Capital Management LLC acquired a new position in Armstrong World Industries during the first quarter worth approximately $113,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Armstrong World Industries during the first quarter worth approximately $137,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of Armstrong World Industries during the first quarter worth approximately $178,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

AWI has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $68.00 target price on shares of Armstrong World Industries in a research report on Friday, July 20th. ValuEngine downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Finally, SunTrust Banks lifted their target price on Armstrong World Industries to $78.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $66.71.

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 worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.

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