Envestnet Asset Management Inc. Reduces Holdings in Armstrong World Industries, Inc. $AWI

Envestnet Asset Management Inc. trimmed its holdings in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,783 shares of the construction company’s stock after selling 11,546 shares during the period. Envestnet Asset Management Inc. owned about 0.68% of Armstrong World Industries worth $57,388,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AWI. Raleigh Capital Management Inc. purchased a new position in Armstrong World Industries during the third quarter worth $251,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Armstrong World Industries during the third quarter valued at $397,000. AlphaQuest LLC increased its position in Armstrong World Industries by 4.2% during the 3rd quarter. AlphaQuest LLC now owns 22,769 shares of the construction company’s stock worth $4,463,000 after purchasing an additional 915 shares in the last quarter. Arizona State Retirement System raised its stake in Armstrong World Industries by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 12,850 shares of the construction company’s stock valued at $2,519,000 after purchasing an additional 165 shares during the last quarter. Finally, Archer Investment Corp lifted its holdings in Armstrong World Industries by 8.5% in the 3rd quarter. Archer Investment Corp now owns 868 shares of the construction company’s stock valued at $170,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AWI. Vertical Research began coverage on shares of Armstrong World Industries in a report on Monday, October 20th. They set a “buy” rating and a $238.00 price target for the company. JPMorgan Chase & Co. lifted their target price 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. Wall Street Zen downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. UBS Group raised their price objective on Armstrong World Industries from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Armstrong World Industries in a research note on Wednesday, January 21st. 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 company’s stock. According to MarketBeat, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and an average target price of $207.50.

Armstrong World Industries Price Performance

AWI stock opened at $200.13 on Tuesday. The stock has a 50-day moving average price of $190.29 and a two-hundred day moving average price of $191.92. Armstrong World Industries, Inc. has a 12-month low of $122.37 and a 12-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 company has a market cap of $8.63 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.33.

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.