Kennedy Capital Management Inc. Buys 14,370 Shares of Armstrong Flooring Inc (NYSE:AFI)

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Kennedy Capital Management Inc. boosted its holdings in Armstrong Flooring Inc (NYSE:AFI) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 377,094 shares of the construction company’s stock after buying an additional 14,370 shares during the period. Kennedy Capital Management Inc.’s holdings in Armstrong Flooring were worth $5,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in shares of Armstrong Flooring in the 4th quarter valued at about $25,000. Royce & Associates LP bought a new stake in shares of Armstrong Flooring in the 1st quarter valued at approximately $31,000. Legal & General Group Plc grew its stake in Armstrong Flooring by 23.8% during the 4th quarter. Legal & General Group Plc now owns 3,865 shares of the construction company’s stock worth $46,000 after buying an additional 742 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Armstrong Flooring by 96.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,869 shares of the construction company’s stock worth $66,000 after acquiring an additional 2,393 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in Armstrong Flooring during the 4th quarter worth $76,000. 98.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of AFI stock traded down $0.01 during trading hours on Wednesday, hitting $11.28. 2,462 shares of the company were exchanged, compared to its average volume of 155,783. The company has a quick ratio of 1.36, a current ratio of 2.64 and a debt-to-equity ratio of 0.20. Armstrong Flooring Inc has a 52-week low of $10.40 and a 52-week high of $20.46. The firm has a market cap of $292.36 million, a P/E ratio of 51.18 and a beta of 2.45.

Armstrong Flooring (NYSE:AFI) last issued its earnings results on Friday, May 3rd. The construction company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $161.32 million. During the same quarter in the previous year, the business earned ($0.13) EPS. Armstrong Flooring’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities analysts expect that Armstrong Flooring Inc will post -0.3 EPS for the current year.

Several research analysts recently weighed in on AFI shares. Zelman & Associates raised Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Zacks Investment Research downgraded Armstrong Flooring from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. TheStreet cut Armstrong Flooring from a “c-” rating to a “d+” rating in a report on Thursday, May 30th. Finally, Gabelli lowered Armstrong Flooring from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating, Armstrong Flooring has a consensus rating of “Hold” and a consensus price target of $16.00.

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

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