Armstrong World Industries (NYSE:AWI) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) shares saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 228,041 shares were traded during mid-day trading, an increase of 9% from the previous session's volume of 210,146 shares.The stock last traded at $153.24 and had previously closed at $145.72.

The construction company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries's payout ratio is 20.40%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. The Goldman Sachs Group lifted their target price on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday. UBS Group lifted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday. Truist Financial lifted their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday. Finally, StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $153.33.

Institutional Trading of Armstrong World Industries

Several large investors have recently modified their holdings of the company. Madison Investment Advisors LLC purchased a new position in Armstrong World Industries during the fourth quarter valued at $75,242,000. Norges Bank purchased a new position in shares of Armstrong World Industries in the fourth quarter valued at about $71,822,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Armstrong World Industries by 140.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after buying an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after buying an additional 387,537 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Armstrong World Industries by 25.4% in the fourth quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after buying an additional 102,895 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Armstrong World Industries Stock Up 1.5 %

The business has a 50-day moving average of $148.07 and a 200 day moving average of $142.41. 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 $6.69 billion, a PE ratio of 27.06, a P/E/G ratio of 1.60 and a beta of 1.19.

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.