Naya Management Llp Lowers stake in Armstrong World Industries (AWI)

Armstrong World Industries (AWI) : Naya Management Llp reduced its stake in Armstrong World Industries by 13.35% during the most recent quarter end. The investment management company now holds a total of 1,842,642 shares of Armstrong World Industries which is valued at $82,476,656 after selling 283,958 shares in Armstrong World Industries , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Armstrong World Industries makes up approximately 13.25% of Naya Management Llp’s portfolio.

Other Hedge Funds, Including , Carlson Capital L P boosted its stake in AWI in the latest quarter, The investment management firm added 174,349 additional shares and now holds a total of 199,949 shares of Armstrong World Industries which is valued at $8,949,717. Armstrong World Industries makes up approx 0.11% of Carlson Capital L P’s portfolio. Group One Trading sold out all of its stake in AWI during the most recent quarter. The investment firm sold 1,200 shares of AWI which is valued $53,712.Ubs Asset Management Americas Inc boosted its stake in AWI in the latest quarter, The investment management firm added 2,104 additional shares and now holds a total of 43,514 shares of Armstrong World Industries which is valued at $1,937,678.Eos Focused Equity Management boosted its stake in AWI in the latest quarter, The investment management firm added 34,104 additional shares and now holds a total of 92,334 shares of Armstrong World Industries which is valued at $4,111,633. Armstrong World Industries makes up approx 4.17% of Eos Focused Equity Management’s portfolio.Skylands Capital reduced its stake in AWI by selling 2,600 shares or 8.64% in the most recent quarter. The Hedge Fund company now holds 27,500 shares of AWI which is valued at $1,137,675. Armstrong World Industries makes up approx 0.18% of Skylands Capital’s portfolio.

Armstrong World Industries opened for trading at $43.36 and hit $43.82 on the upside on Thursday, eventually ending the session at $43.5, with a gain of 0.07% or 0.03 points. The heightened volatility saw the trading volume jump to 2,39,671 shares. Company has a market cap of $2,414 M.

On the company’s financial health, Armstrong World Industries reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.50. The company had revenue of $314.30 million for the quarter, compared to analysts expectations of $310.89 million. The company’s revenue was down -50.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on Armstrong World Industries. Armstrong World Industries was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Aug 5, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .Armstrong World Industries was Downgraded by Goldman to ” Sell” on Jul 12, 2016.

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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