Spark Investment Management LLC cut its position in shares of Armstrong Flooring Inc (NYSE:AFI) by 67.5% during the 1st quarter, Holdings Channel reports. The firm owned 19,000 shares of the construction company’s stock after selling 39,491 shares during the period. Spark Investment Management LLC’s holdings in Armstrong Flooring were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quantamental Technologies LLC bought a new position in Armstrong Flooring during the fourth quarter valued at about $25,000. Legal & General Group Plc raised its position in Armstrong Flooring by 23.8% in the 4th quarter. Legal & General Group Plc now owns 3,865 shares of the construction company’s stock valued at $46,000 after purchasing an additional 742 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Armstrong Flooring by 96.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,869 shares of the construction company’s stock valued at $66,000 after purchasing an additional 2,393 shares during the last quarter. ClariVest Asset Management LLC bought a new position in Armstrong Flooring in the 4th quarter valued at $76,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Armstrong Flooring by 296.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,530 shares of the construction company’s stock valued at $77,000 after purchasing an additional 4,881 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.
Several brokerages have issued reports on AFI. Gabelli downgraded Armstrong Flooring from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Armstrong Flooring from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Zelman & Associates upgraded Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $16.00.
Armstrong Flooring (NYSE:AFI) last released its earnings results on Friday, May 3rd. The construction company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.29). The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $161.32 million. Armstrong Flooring had a positive return on equity of 0.45% and a negative net margin of 18.58%. The company’s revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. As a group, equities research analysts anticipate 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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