Armstrong World Industries, Inc. $AWI Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its position in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 79.1% in the third quarter, Holdings Channel.com reports. The firm owned 9,386 shares of the construction company’s stock after acquiring an additional 4,146 shares during the period. Truist Financial Corp’s holdings in Armstrong World Industries were worth $1,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AWI. Root Financial Partners LLC purchased a new stake in shares of Armstrong World Industries during the third quarter worth about $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Armstrong World Industries during the 2nd quarter worth approximately $32,000. SJS Investment Consulting Inc. increased its holdings in Armstrong World Industries by 4,860.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 248 shares of the construction company’s stock worth $49,000 after purchasing an additional 243 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Armstrong World Industries in the 2nd quarter valued at approximately $46,000. Finally, MAI Capital Management purchased a new position in shares of Armstrong World Industries during the 2nd quarter valued at approximately $47,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Armstrong World Industries from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. UBS Group upped their target price on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Vertical Research began coverage on Armstrong World Industries in a research note on Monday, October 20th. They issued a “buy” rating and a $238.00 price target for the company. Zacks Research lowered Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and an average price target of $207.50.

Armstrong World Industries Stock Up 2.5%

Shares of Armstrong World Industries stock opened at $198.55 on Friday. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.73 and a beta of 1.33. Armstrong World Industries, Inc. has a twelve month low of $122.37 and a twelve month high of $206.08. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $190.08 and its 200-day simple moving average is $191.52.

Armstrong World Industries 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.