Truist Financial Corp Sells 217 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Truist Financial Corp trimmed its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,067 shares of the construction company’s stock after selling 217 shares during the period. Truist Financial Corp owned approximately 0.05% of Armstrong World Industries worth $2,366,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AWI. FMR LLC grew its position in Armstrong World Industries by 25.9% during the third quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock valued at $117,068,000 after acquiring an additional 334,065 shares during the last quarter. Van Berkom & Associates Inc. grew its position in Armstrong World Industries by 18.3% during the third quarter. Van Berkom & Associates Inc. now owns 1,080,384 shares of the construction company’s stock valued at $77,788,000 after acquiring an additional 167,169 shares during the last quarter. Cooke & Bieler LP grew its position in Armstrong World Industries by 10.2% during the fourth quarter. Cooke & Bieler LP now owns 1,316,653 shares of the construction company’s stock valued at $129,453,000 after acquiring an additional 121,586 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Armstrong World Industries by 55.9% during the third quarter. Envestnet Asset Management Inc. now owns 223,178 shares of the construction company’s stock valued at $16,069,000 after acquiring an additional 79,995 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Armstrong World Industries by 45.2% during the third quarter. AQR Capital Management LLC now owns 208,550 shares of the construction company’s stock valued at $15,016,000 after acquiring an additional 64,937 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $116.23 on Thursday. The stock has a fifty day moving average of $119.61 and a 200 day moving average of $103.26. Armstrong World Industries, Inc. has a 52 week low of $62.03 and a 52 week high of $125.56. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.74 and a beta of 1.12. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The company had revenue of $326.30 million during the quarter, compared to analyst estimates of $319.44 million. During the same quarter last year, the firm posted $1.12 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Armstrong World Industries, Inc. will post 5.89 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AWI. Evercore ISI increased their price target on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, March 28th. Finally, Truist Financial raised their target price on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.17.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.