JPMorgan Chase & Co. trimmed its stake in Armstrong Flooring Inc (NYSE:AFI) by 33.9% during the 3rd quarter, Holdings Channel reports. The firm owned 23,725 shares of the construction company’s stock after selling 12,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in Armstrong Flooring were worth $429,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Engineers Gate Manager LP boosted its stake in Armstrong Flooring by 61.9% in the third quarter. Engineers Gate Manager LP now owns 23,261 shares of the construction company’s stock worth $421,000 after buying an additional 8,892 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Armstrong Flooring by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,148,742 shares of the construction company’s stock worth $30,168,000 after buying an additional 55,666 shares in the last quarter. Jane Street Group LLC purchased a new stake in Armstrong Flooring in the second quarter worth approximately $194,000. Schwab Charles Investment Management Inc. boosted its stake in Armstrong Flooring by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 377,796 shares of the construction company’s stock worth $5,305,000 after buying an additional 45,810 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Armstrong Flooring in the second quarter worth approximately $237,000. Institutional investors own 97.79% of the company’s stock.
AFI has been the subject of several research reports. Gabelli raised Armstrong Flooring from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Friday, November 16th. Zelman & Associates lowered Armstrong Flooring from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. Nomura set a $15.00 target price on Armstrong Flooring and gave the stock a “hold” rating in a research note on Monday, December 17th. Macquarie set a $18.00 target price on Armstrong Flooring and gave the stock a “hold” rating in a research note on Friday, September 14th. Finally, Zacks Investment Research lowered Armstrong Flooring from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.80.
Armstrong Flooring (NYSE:AFI) last released its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $309.70 million during the quarter, compared to analyst estimates of $313.82 million. Armstrong Flooring had a positive return on equity of 2.71% and a negative net margin of 1.12%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Sell-side analysts anticipate that Armstrong Flooring Inc will post 0.35 earnings per share for the current year.
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About Armstrong Flooring
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells flooring products in North America and the Pacific Rim. It operates through two segments, Resilient Flooring and Wood Flooring. The Resilient Flooring segment offers a range of floor coverings primarily for homes and commercial buildings under the Armstrong brand; and luxury vinyl tile products, vinyl tile flooring, vinyl sheet products, and laminate products, as well as installs and maintains materials and accessories.
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