Truist Financial Corp Raises Stock Holdings in Armstrong World Industries, Inc. $AWI

Truist Financial Corp increased its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 79.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,386 shares of the construction company’s stock after purchasing an additional 4,146 shares during the quarter. Truist Financial Corp’s holdings in Armstrong World Industries were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AWI. Root Financial Partners LLC acquired a new stake in shares of Armstrong World Industries during the 3rd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Armstrong World Industries in the second quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new position in shares of Armstrong World Industries during the second quarter valued at approximately $46,000. MAI Capital Management acquired a new stake in Armstrong World Industries during the second quarter worth approximately $47,000. Finally, SJS Investment Consulting Inc. grew its stake in Armstrong World Industries by 4,860.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 248 shares of the construction company’s stock worth $49,000 after acquiring an additional 243 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

AWI opened at $198.55 on Friday. Armstrong World Industries, Inc. has a 52-week low of $122.37 and a 52-week high of $206.08. The company has a 50 day moving average of $190.08 and a two-hundred day moving average of $191.52. The company has a market cap of $8.56 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.73 and a beta of 1.33. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 0.47.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AWI. JPMorgan Chase & Co. increased their price target on Armstrong World Industries from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, January 21st. Zacks Research lowered Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. UBS Group lifted their price target on Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Vertical Research initiated coverage on shares of Armstrong World Industries in a report on Monday, October 20th. They set a “buy” rating and a $238.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.50.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.

Armstrong’s product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.