TPG sells its entire stake in Armstrong Worldwide


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Bobby Raines 03/13/2014

TPG Advisors, a beneficial owner of Armstrong World Industries ( AWI ) , its entire holdings of 2,054,977 shares of the company's common stock on March 10. At $53.80 per share, TPG pulled in a total of $110,557,760 from the sale.

IK-> The technicals for AWI ($55.11 down $1.32) are bullish with a downward trend. The stock has been recent support has been around $53.44 and recent resistance has been around $56.40. Standard & Poor's has a two STARs (out of five) rating on the stock. Look at the June 60/65 bear-call spread for a 65-cent credit. That's a 14.9% return and the stock has to rise 8.9% to cause a problem.  [InvestorsKeyhole, Various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Options

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