Armstrong World Industries (NYSE:AWI) Sees Unusually-High Trading Volume

Shares of Armstrong World Industries, Inc. (NYSE:AWI) saw unusually-high trading volume on Tuesday . Approximately 858,910 shares were traded during trading, an increase of 152% from the previous session’s volume of 341,245 shares.The stock last traded at $129.52 and had previously closed at $127.18.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AWI. UBS Group lifted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI increased their price objective on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and an average price target of $117.60.

Armstrong World Industries Stock Up 0.9 %

The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.96 and a beta of 1.14. The business’s 50 day moving average is $116.06 and its 200-day moving average is $114.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.79.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The business had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. During the same quarter last year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Armstrong World Industries, Inc. will post 5.89 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.88%. Armstrong World Industries’s payout ratio is currently 21.05%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Armstrong World Industries in the 4th quarter valued at about $27,000. Allspring Global Investments Holdings LLC purchased a new position in Armstrong World Industries during the first quarter worth approximately $27,000. UMB Bank n.a. boosted its stake in Armstrong World Industries by 67.3% during the first quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after buying an additional 105 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at about $49,000. Finally, YHB Investment Advisors Inc. acquired a new position in Armstrong World Industries in the 1st quarter valued at about $52,000. 98.93% of the stock is 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.