Truist Financial Corp Sells 1,370 Shares of Armstrong World Industries, Inc. (NYSE:AWI)

Truist Financial Corp reduced its stake in shares of Armstrong World Industries, Inc. (NYSE:AWI) by 21.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,162 shares of the construction company’s stock after selling 1,370 shares during the period. Truist Financial Corp’s holdings in Armstrong World Industries were worth $585,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Armstrong World Industries in the first quarter worth about $27,000. First Horizon Advisors Inc. increased its stake in shares of Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after purchasing an additional 125 shares during the period. Covestor Ltd increased its stake in shares of Armstrong World Industries by 20.4% in the first quarter. Covestor Ltd now owns 596 shares of the construction company’s stock worth $74,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC increased its stake in shares of Armstrong World Industries by 25.3% in the first quarter. GAMMA Investing LLC now owns 620 shares of the construction company’s stock worth $77,000 after purchasing an additional 125 shares during the period. Finally, CWM LLC increased its stake in shares of Armstrong World Industries by 17.3% in the second quarter. CWM LLC now owns 644 shares of the construction company’s stock worth $73,000 after purchasing an additional 95 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Stock Up 0.4 %

NYSE AWI opened at $138.64 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $127.23 and its two-hundred day moving average is $120.95. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.92 and a beta of 1.14. Armstrong World Industries, Inc. has a 1-year low of $68.35 and a 1-year high of $141.00.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. The company had revenue of $365.10 million for the quarter, compared to the consensus estimate of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. Equities analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s payout ratio is 21.05%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AWI shares. UBS Group lifted their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their target price on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Truist Financial lifted their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group lifted their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

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.