Bridger Management adds Armstrong World Industries (AWI) to its portfolio

Armstrong World Industries (AWI) : Bridger Management added new position in Armstrong World Industries during the most recent quarter end. The investment management firm now holds 1,034,642 shares of Armstrong World Industries which is valued at $41,540,876 , the company said in a statement filed on Nov 14, 2016 with the SEC.Armstrong World Industries makes up approximately 3.00% of Bridger Management’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas sold out all of its stake in AWI during the most recent quarter. The investment firm sold 5,830 shares of AWI which is valued $214,253.

Armstrong World Industries closed down -0.15 points or -0.37% at $40.85 with 3,51,401 shares getting traded on Monday. Post opening the session at $41.05, the shares hit an intraday low of $40.5 and an intraday high of $41.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Armstrong World Industries reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on Oct 31, 2016. Analyst had a consensus of $0.74. The company had revenue of $334.90 million for the quarter, compared to analysts expectations of $343.11 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.80 EPS.

Many Wall Street Analysts have commented on Armstrong World Industries. BofA/Merrill Resumed Armstrong World Industries on Sep 23, 2016 to “Underperform”, Price Target of the shares are set at $38.

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 produces and sources a range of floor coverings for homes and commercial and institutional buildings and Wood Flooring segment produces and sources wood flooring products for use in new residential construction and renovation with commercial applications in stores restaurants and high-end offices. Its brands include Armstrong Alterna BBT BioBased Tile BioGuard Bruce Cirrus Dune Excelon Huiyi Imperial Initiator Laurel Luxe Plank Medintech MetalWorks Optima Perla Plano Stonetex Station Square ToughGuard Ultima and WoodWorks among others.

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