Raymond James & Associates grew its holdings in shares of Armstrong Flooring Inc (NYSE:AFI) by 51.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,773 shares of the construction company’s stock after purchasing an additional 108,054 shares during the period. Raymond James & Associates owned approximately 1.23% of Armstrong Flooring worth $4,335,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. River Road Asset Management LLC raised its position in shares of Armstrong Flooring by 2.5% during the 1st quarter. River Road Asset Management LLC now owns 889,182 shares of the construction company’s stock valued at $12,093,000 after buying an additional 21,860 shares during the period. Teton Advisors Inc. lifted its position in Armstrong Flooring by 14.8% in the first quarter. Teton Advisors Inc. now owns 390,937 shares of the construction company’s stock valued at $5,317,000 after acquiring an additional 50,537 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Armstrong Flooring by 27.4% in the first quarter. Gamco Investors INC. ET AL now owns 1,471,031 shares of the construction company’s stock valued at $20,006,000 after acquiring an additional 316,130 shares during the last quarter. Gabelli Funds LLC lifted its position in Armstrong Flooring by 44.5% in the first quarter. Gabelli Funds LLC now owns 516,685 shares of the construction company’s stock valued at $7,027,000 after acquiring an additional 159,185 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in Armstrong Flooring by 23.1% in the first quarter. Wedge Capital Management L L P NC now owns 83,499 shares of the construction company’s stock valued at $1,136,000 after acquiring an additional 15,688 shares during the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.
A number of equities research analysts recently weighed in on AFI shares. Zelman & Associates raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Zacks Investment Research lowered shares of Armstrong Flooring from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. TheStreet lowered shares of Armstrong Flooring from a “c-” rating to a “d+” rating in a research report on Thursday, May 30th. Finally, Gabelli lowered shares of Armstrong Flooring from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Wednesday, May 8th. Seven equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $16.00.
In other news, Director Holdings L.P. Valueact sold 3,399,925 shares of Armstrong Flooring stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $11.10, for a total value of $37,739,167.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.60% of the company’s stock.
Shares of AFI traded down $0.18 on Wednesday, hitting $9.71. 235,946 shares of the stock traded hands, compared to its average volume of 183,340. The company has a quick ratio of 1.36, a current ratio of 2.64 and a debt-to-equity ratio of 0.20. The stock has a market cap of $255.25 million, a price-to-earnings ratio of 44.14 and a beta of 2.46. Armstrong Flooring Inc has a 1 year low of $9.61 and a 1 year high of $20.46. The firm has a 50 day moving average price of $11.15.
Armstrong Flooring (NYSE:AFI) last posted its quarterly earnings results on Friday, May 3rd. The construction company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.29). Armstrong Flooring had a positive return on equity of 0.45% and a negative net margin of 18.58%. The company had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $161.32 million. During the same period in the prior year, the business earned ($0.13) EPS. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, sell-side analysts expect that Armstrong Flooring Inc will post -0.3 earnings per share for the current fiscal year.
About Armstrong Flooring
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells resilient flooring products for use primarily in the construction and renovation of commercial, residential, and institutional buildings in North America and the Pacific Rim. The company sells its products to independent wholesale flooring distributors, retailers, builders, contractors, installers, property management firms, homeowners, and others.
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