Wedge Capital Management L L P NC Takes $1.09 Million Position in Armstrong Flooring Inc (AFI)

Wedge Capital Management L L P NC acquired a new stake in shares of Armstrong Flooring Inc (NYSE:AFI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 64,100 shares of the construction company’s stock, valued at approximately $1,085,000. Wedge Capital Management L L P NC owned about 0.25% of Armstrong Flooring at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its position in Armstrong Flooring by 13.7% during the second quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock valued at $231,000 after acquiring an additional 1,551 shares during the last quarter. Citadel Advisors LLC bought a new position in Armstrong Flooring during the second quarter valued at $330,000. KBC Group NV increased its position in Armstrong Flooring by 17.7% during the third quarter. KBC Group NV now owns 21,966 shares of the construction company’s stock valued at $346,000 after acquiring an additional 3,303 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Armstrong Flooring by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock valued at $351,000 after acquiring an additional 1,056 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Armstrong Flooring by 34.9% during the second quarter. Alliancebernstein L.P. now owns 19,710 shares of the construction company’s stock valued at $354,000 after acquiring an additional 5,100 shares during the last quarter. Hedge funds and other institutional investors own 97.60% of the company’s stock.

Armstrong Flooring Inc (NYSE AFI) traded down $0.13 during mid-day trading on Thursday, hitting $14.37. 50,300 shares of the company’s stock traded hands, compared to its average volume of 92,151. The stock has a market capitalization of $364.27, a price-to-earnings ratio of 59.00 and a beta of 2.80. Armstrong Flooring Inc has a 1-year low of $13.32 and a 1-year high of $22.96. The company has a current ratio of 2.66, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

A number of brokerages have recently issued reports on AFI. TheStreet raised shares of Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. SunTrust Banks reissued a “hold” rating and set a $15.00 target price on shares of Armstrong Flooring in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.33.

ILLEGAL ACTIVITY WARNING: “Wedge Capital Management L L P NC Takes $1.09 Million Position in Armstrong Flooring Inc (AFI)” was originally published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.thelincolnianonline.com/2018/02/15/wedge-capital-management-l-l-p-nc-takes-1-09-million-position-in-armstrong-flooring-inc-afi-updated.html.

Armstrong Flooring Profile

Armstrong Flooring, Inc produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. It operates through two segments: Resilient Flooring and Wood Flooring.

Institutional Ownership by Quarter for Armstrong Flooring (NYSE:AFI)

Receive News & Ratings for Armstrong Flooring Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong Flooring and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply