Armstrong World Industries, Inc. (NYSE:AWI) Sees Significant Increase in Short Interest

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 540,500 shares, a growth of 12.4% from the December 15th total of 480,800 shares. Based on an average daily trading volume, of 204,500 shares, the short-interest ratio is presently 2.6 days. Currently, 1.3% of the company’s shares are sold short.

Analyst Ratings Changes

AWI has been the subject of several research analyst reports. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group boosted their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Loop Capital raised their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries has an average rating of “Hold” and an average target price of $140.83.

Institutional Trading of Armstrong World Industries

Hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new stake in Armstrong World Industries during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC purchased a new position in shares of Armstrong World Industries in the 4th quarter worth about $32,000. Fortitude Family Office LLC purchased a new position in shares of Armstrong World Industries during the fourth quarter worth approximately $33,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries in the third quarter worth $31,000. Finally, Point72 DIFC Ltd bought a new position in Armstrong World Industries during the 3rd quarter worth approximately $47,000. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Price Performance

Armstrong World Industries stock traded up $0.73 during mid-day trading on Friday, reaching $148.83. The company had a trading volume of 147,651 shares, compared to its average volume of 164,659. The company has a market cap of $6.49 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.63 and a beta of 1.18. Armstrong World Industries has a fifty-two week low of $96.69 and a fifty-two week high of $164.40. 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 business has a fifty day simple moving average of $150.55 and a 200 day simple moving average of $136.23.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period in the previous year, the business earned $1.60 EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.83%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

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.