Armstrong World Industries (NYSE:AWI) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Armstrong World Industries, Inc. (NYSE:AWI) saw unusually-strong trading volume on Friday . Approximately 410,617 shares changed 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 Upgrades and Downgrades

AWI has been the topic of a number of analyst reports. Truist Financial upped their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. UBS Group lifted their price target on shares of 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 upped 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 cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Stock Performance

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 stock’s 50 day simple moving average is $147.04 and its two-hundred day simple moving average is $145.89. The company has a market capitalization of $5.67 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.60 and a beta of 1.20.

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

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Hedge Funds Weigh In On Armstrong World Industries

Several large investors have recently bought and sold shares of AWI. BNP Paribas Financial Markets lifted its stake in shares of Armstrong World Industries by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock valued at $1,447,000 after purchasing an additional 5,191 shares during the period. Walleye Capital LLC acquired a new position in Armstrong World Industries in the third quarter valued at about $225,000. Verition Fund Management LLC bought a new position in Armstrong World Industries during the third quarter worth about $1,035,000. Centiva Capital LP acquired a new position in shares of Armstrong World Industries during the 3rd quarter worth about $489,000. Finally, HighTower Advisors LLC increased its stake in shares of Armstrong World Industries by 1.1% in the 3rd quarter. HighTower Advisors LLC now owns 15,730 shares of the construction company’s stock valued at $2,073,000 after acquiring an additional 177 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.