Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Increases By 12.4%

Armstrong World Industries, Inc. (NYSE:AWI) was the target of a large growth in short interest in 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. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 204,500 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

AWI has been the subject of a number of analyst reports. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group lifted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Truist Financial lifted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital increased their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $140.83.

Institutional Trading of Armstrong World Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in shares of Armstrong World Industries in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at about $32,000. Fortitude Family Office LLC bought a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $33,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries during the third quarter valued at about $31,000. Finally, Point72 DIFC Ltd bought a new stake in Armstrong World Industries during the 3rd quarter valued at approximately $47,000. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Trading Up 0.5 %

Shares of NYSE AWI traded up $0.73 during trading on Friday, hitting $148.83. 147,651 shares of the company traded hands, compared to its average volume of 164,659. Armstrong World Industries has a 1 year low of $96.69 and a 1 year high of $164.40. The firm has a market capitalization 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. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $150.55 and a 200-day moving average price of $136.23.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 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 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. On average, equities analysts predict that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 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.