Armstrong World Industries (NYSE:AWI) Sees Large Volume Increase – What’s Next?

Shares of Armstrong World Industries, Inc. (NYSE:AWI) saw an uptick in trading volume on Friday . 410,617 shares were traded 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 Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their price objective 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 increased their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Truist Financial raised their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus price target of $153.33.

Armstrong World Industries Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The business has a fifty day moving average price of $147.04 and a 200 day moving average price of $145.89.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. The firm had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 EPS. On average, equities analysts expect that Armstrong World Industries, Inc. will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Hedge Funds Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Investment Advisors LLC acquired a new stake in shares of Armstrong World Industries during the 4th quarter worth approximately $75,242,000. Norges Bank acquired a new stake in Armstrong World Industries during the fourth quarter worth $71,822,000. Adage Capital Partners GP L.L.C. increased its holdings in Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after buying an additional 389,000 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of Armstrong World Industries by 267.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock valued at $75,273,000 after buying an additional 387,537 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Armstrong World Industries by 25.4% during the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company’s stock worth $71,773,000 after acquiring an additional 102,895 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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.