DAVENPORT & Co LLC Reduces Stock Position in Armstrong World Industries, Inc. (NYSE:AWI)

DAVENPORT & Co LLC lowered its stake in Armstrong World Industries, Inc. (NYSE:AWI) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,405 shares of the construction company’s stock after selling 665 shares during the quarter. DAVENPORT & Co LLC’s holdings in Armstrong World Industries were worth $2,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its stake in shares of Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after acquiring an additional 51,839 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after acquiring an additional 34,028 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after acquiring an additional 67,798 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after acquiring an additional 18,333 shares during the last quarter. Finally, Harvey Partners LLC boosted its stake in shares of Armstrong World Industries by 0.4% during the 3rd quarter. Harvey Partners LLC now owns 230,500 shares of the construction company’s stock worth $30,295,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Loop Capital lifted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Truist Financial lifted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted 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 note on Wednesday, October 9th. Finally, UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI opened at $149.30 on Wednesday. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 1.64 and a beta of 1.19. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. Armstrong World Industries, Inc. has a 12 month low of $99.63 and a 12 month high of $164.40. The firm’s 50-day moving average is $149.15 and its 200 day moving average is $139.36.

About Armstrong World Industries

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.