Armstrong World Industries (NYSE:AWI) Sees Large Volume Increase - Should You Buy?

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) saw unusually-high trading volume on Friday . Approximately 410,617 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AWI shares. StockNews.com lowered Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group lifted their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Truist Financial raised their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, UBS Group boosted their target price 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. Five research 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 an average price target of $153.33.

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Armstrong World Industries Price Performance

The stock has a market cap of $5.49 billion, a PE ratio of 22.28, a PEG ratio of 1.60 and a beta of 1.20. 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 stock's 50-day moving average is $145.74 and its two-hundred day moving average is $145.81.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $367.70 million during the quarter, compared to analysts' expectations of $364.98 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The company's revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, March 6th. Armstrong World Industries's payout ratio is currently 20.40%.

Hedge Funds Weigh In On Armstrong World Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. Vanguard Group Inc. raised its stake in shares of Armstrong World Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock valued at $656,922,000 after acquiring an additional 34,579 shares in the last quarter. State Street Corp boosted its stake in shares of Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company's stock valued at $191,119,000 after buying an additional 51,839 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of Armstrong World Industries by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company's stock valued at $169,427,000 after buying an additional 19,787 shares during the period. Geode Capital Management LLC grew its position in shares of Armstrong World Industries by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after buying an additional 35,738 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Armstrong World Industries by 140.4% during 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 during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

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.