Armstrong World Industries (NYSE:AWI) Sees Strong Trading Volume on Strong Earnings

Armstrong World Industries, Inc. (NYSE:AWI) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. 228,041 shares changed hands 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 (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share.

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 paid a dividend of $0.308 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.23 annualized dividend and a yield of 0.81%. Armstrong World Industries’s dividend payout ratio (DPR) is 21.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AWI shares. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI lifted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group lifted their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Loop Capital lifted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of “Hold” and an average price target of $145.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC grew its stake in Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares in the last quarter. Quest Partners LLC lifted its holdings in Armstrong World Industries by 32.9% during the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock worth $2,625,000 after buying an additional 4,945 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after buying an additional 34,028 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Armstrong World Industries by 89.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after buying an additional 5,191 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Armstrong World Industries during the 3rd quarter worth about $1,035,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Price Performance

The company has a market capitalization of $6.62 billion, a PE ratio of 26.80, a P/E/G ratio of 1.60 and a beta of 1.19. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $147.68 and a 200-day simple moving average of $142.11.

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.