Ancora Advisors LLC Has $5.75 Million Position in Armstrong Flooring Inc (AFI)

Ancora Advisors LLC lowered its holdings in Armstrong Flooring Inc (NYSE:AFI) by 36.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 485,691 shares of the construction company’s stock after selling 283,640 shares during the period. Ancora Advisors LLC’s holdings in Armstrong Flooring were worth $5,750,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY boosted its position in Armstrong Flooring by 296.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,530 shares of the construction company’s stock valued at $77,000 after buying an additional 4,881 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Armstrong Flooring by 8.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 629,195 shares of the construction company’s stock valued at $7,450,000 after buying an additional 50,404 shares in the last quarter. Nantahala Capital Management LLC boosted its position in Armstrong Flooring by 15.4% in the fourth quarter. Nantahala Capital Management LLC now owns 2,049,813 shares of the construction company’s stock valued at $24,270,000 after buying an additional 273,300 shares in the last quarter. Bank of America Corp DE boosted its position in Armstrong Flooring by 418.0% in the fourth quarter. Bank of America Corp DE now owns 105,917 shares of the construction company’s stock valued at $1,254,000 after buying an additional 85,470 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Armstrong Flooring by 4.7% in the fourth quarter. Two Sigma Advisers LP now owns 146,900 shares of the construction company’s stock valued at $1,739,000 after buying an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 98.16% of the company’s stock.

A number of research firms have commented on AFI. Zacks Investment Research lowered shares of Armstrong Flooring from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Zelman & Associates upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Nomura set a $14.00 price target on shares of Armstrong Flooring and gave the company a “hold” rating in a research report on Monday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Armstrong Flooring has a consensus rating of “Hold” and a consensus target price of $17.60.

NYSE:AFI opened at $14.20 on Friday. The stock has a market capitalization of $350.85 million, a price-to-earnings ratio of 64.55, a PEG ratio of 2.53 and a beta of 2.28. Armstrong Flooring Inc has a 12 month low of $11.39 and a 12 month high of $20.46. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

Armstrong Flooring (NYSE:AFI) last announced its earnings results on Tuesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.18). Armstrong Flooring had a positive return on equity of 1.78% and a negative net margin of 15.86%. The company had revenue of $153.80 million for the quarter, compared to analyst estimates of $233.94 million. During the same quarter in the previous year, the company posted ($0.68) earnings per share. Armstrong Flooring’s revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts predict that Armstrong Flooring Inc will post 0.28 earnings per share for the current fiscal year.

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Armstrong Flooring Profile

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.

Further Reading: Net Income

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

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