AlTi Global Inc. Sells 7,259 Shares of Armstrong World Industries, Inc. $AWI

AlTi Global Inc. reduced its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 35.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,279 shares of the construction company’s stock after selling 7,259 shares during the period. AlTi Global Inc.’s holdings in Armstrong World Industries were worth $2,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York Life Investment Management LLC bought a new stake in shares of Armstrong World Industries in the third quarter worth about $858,000. Smartleaf Asset Management LLC increased its stake in Armstrong World Industries by 9.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 874 shares of the construction company’s stock worth $169,000 after acquiring an additional 77 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Armstrong World Industries by 1,317.0% during the 3rd quarter. Alps Advisors Inc. now owns 36,418 shares of the construction company’s stock worth $7,138,000 after acquiring an additional 33,848 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Armstrong World Industries by 70.0% during the 3rd quarter. Bessemer Group Inc. now owns 221 shares of the construction company’s stock valued at $44,000 after acquiring an additional 91 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Armstrong World Industries by 2.7% in the third quarter. Savant Capital LLC now owns 16,551 shares of the construction company’s stock valued at $3,244,000 after purchasing an additional 441 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AWI has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Armstrong World Industries from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. UBS Group boosted their price objective on Armstrong World Industries from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Vertical Research initiated coverage on Armstrong World Industries in a report on Monday, October 20th. They issued a “buy” rating and a $238.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.50.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $202.95 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.52 and a quick ratio of 1.04. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.74 and a beta of 1.33. The firm has a 50-day moving average of $190.58 and a two-hundred day moving average of $192.16. Armstrong World Industries, Inc. has a 1 year low of $122.37 and a 1 year high of $206.08.

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.