Armstrong World Industries, Inc. (NYSE:AWI) Short Interest Update

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 625,900 shares, an increase of 47.9% from the February 28th total of 423,300 shares. Based on an average trading volume of 278,200 shares, the short-interest ratio is currently 2.2 days. Currently, 1.5% of the shares of the stock are sold short.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded down $4.79 on Friday, hitting $139.49. The company’s stock had a trading volume of 218,614 shares, compared to its average volume of 272,650. Armstrong World Industries has a 12 month low of $110.68 and a 12 month high of $164.40. The stock’s 50-day moving average is $148.27 and its two-hundred day moving average is $145.62. 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 company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping 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 company had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts forecast that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Institutional Trading of Armstrong World Industries

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Armstrong World Industries by 4.2% in the third 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 period. BNP Paribas Financial Markets grew its stake 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 valued at $1,447,000 after acquiring an additional 5,191 shares in the last quarter. Verition Fund Management LLC purchased a new position in Armstrong World Industries during the 3rd quarter valued at about $1,035,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Armstrong World Industries by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock valued at $62,074,000 after purchasing an additional 18,333 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Armstrong World Industries by 11.1% in the fourth quarter. Principal Securities Inc. now owns 2,751 shares of the construction company’s stock worth $389,000 after purchasing an additional 274 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AWI shares. Truist Financial boosted 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 note on Thursday, February 27th. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, UBS Group raised their price target 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and an average price target of $153.33.

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.