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

Truist Financial Corp lessened its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 21.0% in the 2nd quarter, HoldingsChannel.com reports. The firm 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 have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in Armstrong World Industries in the 1st quarter worth approximately $2,081,000. Assenagon Asset Management S.A. raised its position in shares of Armstrong World Industries by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after acquiring an additional 33,290 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $39,183,000. Illinois Municipal Retirement Fund bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $3,097,000. Finally, Duality Advisers LP bought a new stake in shares of Armstrong World Industries during the 1st quarter valued at $1,150,000. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Shares of AWI stock opened at $138.64 on Wednesday. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. Armstrong World Industries, Inc. has a 12-month low of $68.35 and a 12-month high of $141.00. The firm has a fifty day moving average of $127.23 and a 200-day moving average of $120.95.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS. On average, equities research analysts forecast that Armstrong World Industries, Inc. will post 6.07 earnings per share for the current year.

Armstrong World Industries Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI upped their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial boosted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, UBS Group boosted their price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Armstrong World Industries 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.