Armstrong World Industries (NYSE:AWI) Sees Strong Trading Volume – Here’s Why

Armstrong World Industries, Inc. (NYSE:AWI) saw unusually-strong trading volume on Friday . Approximately 410,617 shares traded hands during trading, an increase of 53% from the previous session’s volume of 268,386 shares.The stock last traded at $129.64 and had previously closed at $143.11.

Analyst Ratings Changes

AWI has been the topic of a number of recent research reports. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. UBS Group boosted their price target on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $153.33.

Armstrong World Industries Stock Down 3.4 %

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The business’s 50 day moving average is $147.44 and its 200-day moving average is $145.74. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.60 and a beta of 1.20.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. During the same period last year, the company posted $1.22 EPS. Armstrong World Industries’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts predict that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.94%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Institutional Investors Weigh In On Armstrong World Industries

A number of hedge funds have recently modified their holdings of the business. Tealwood Asset Management Inc. grew its stake in Armstrong World Industries by 0.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company’s stock valued at $1,313,000 after acquiring an additional 71 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Armstrong World Industries by 0.7% during the 4th quarter. Arizona State Retirement System now owns 12,683 shares of the construction company’s stock worth $1,792,000 after purchasing an additional 82 shares during the last quarter. Tidal Investments LLC grew its position in shares of Armstrong World Industries by 1.8% in the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company’s stock valued at $740,000 after purchasing an additional 93 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Armstrong World Industries by 6.7% in the fourth quarter. Blue Trust Inc. now owns 1,523 shares of the construction company’s stock valued at $215,000 after purchasing an additional 95 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of Armstrong World Industries by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company’s stock valued at $865,000 after purchasing an additional 97 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.