Sun Life Financial INC Boosts Holdings in Armstrong World Industries Inc (AWI)

Sun Life Financial INC raised its position in Armstrong World Industries Inc (NYSE:AWI) by 260.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,891 shares of the construction company’s stock after purchasing an additional 4,981 shares during the period. Sun Life Financial INC’s holdings in Armstrong World Industries were worth $401,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Csenge Advisory Group acquired a new stake in Armstrong World Industries in the third quarter valued at $368,000. First Hawaiian Bank grew its holdings in Armstrong World Industries by 18.5% in the fourth quarter. First Hawaiian Bank now owns 8,525 shares of the construction company’s stock valued at $496,000 after purchasing an additional 1,330 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Armstrong World Industries in the third quarter valued at $665,000. Franklin Resources Inc. grew its holdings in Armstrong World Industries by 16.0% in the third quarter. Franklin Resources Inc. now owns 51,188 shares of the construction company’s stock valued at $3,562,000 after purchasing an additional 7,042 shares during the last quarter. Finally, Equitable Trust Co. acquired a new stake in Armstrong World Industries in the third quarter valued at $7,589,000. 97.00% of the stock is currently owned by institutional investors.

Shares of AWI traded up $0.97 during trading hours on Friday, reaching $69.59. 8,277 shares of the company traded hands, compared to its average volume of 285,312. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 2.36. The firm has a market cap of $3.44 billion, a P/E ratio of 23.02, a PEG ratio of 0.94 and a beta of 1.77. Armstrong World Industries Inc has a fifty-two week low of $54.34 and a fifty-two week high of $73.45.

Several analysts have weighed in on AWI shares. Nomura set a $72.00 target price on Armstrong World Industries and gave the company a “buy” rating in a report on Monday, December 17th. Bank of America raised Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, January 4th. Zacks Investment Research raised Armstrong World Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective on shares of Armstrong World Industries in a research note on Friday, November 2nd. Finally, KeyCorp raised Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 price objective on the stock in a research note on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Armstrong World Industries presently has an average rating of “Hold” and a consensus target price of $72.88.

ILLEGAL ACTIVITY NOTICE: “Sun Life Financial INC Boosts Holdings in Armstrong World Industries Inc (AWI)” was first published by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.themarketsdaily.com/2019/02/15/sun-life-financial-inc-boosts-holdings-in-armstrong-world-industries-inc-awi.html.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.

Featured Article: Convertible Shares

Want to see what other hedge funds are holding AWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Armstrong World Industries Inc (NYSE:AWI).

Institutional Ownership by Quarter for Armstrong World Industries (NYSE:AWI)

Receive News & Ratings for Armstrong World Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong World Industries and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply