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

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

Analyst Ratings Changes

AWI has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Truist Financial raised their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Armstrong World Industries has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Trading Up 0.9 %

Shares of NYSE:AWI traded up $1.21 during trading on Monday, reaching $140.76. 426,369 shares of the company were exchanged, compared to its average volume of 273,263. Armstrong World Industries has a 12-month low of $110.68 and a 12-month high of $164.40. The firm has a market capitalization of $6.12 billion, a PE ratio of 24.82, a P/E/G ratio of 1.60 and a beta of 1.25. The business’s fifty day simple moving average is $148.11 and its 200-day simple moving average is $145.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The business had revenue of $367.70 million for the quarter, compared to the consensus estimate of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. On average, research analysts anticipate that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

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

Institutional Trading of Armstrong World Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Madison Investment Advisors LLC bought a new stake in Armstrong World Industries during the fourth quarter valued at about $75,242,000. Norges Bank purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at about $71,822,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after buying an additional 389,000 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of Armstrong World Industries by 267.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company’s stock worth $75,273,000 after buying an additional 387,537 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Armstrong World Industries by 25.4% during the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company’s stock worth $71,773,000 after acquiring an additional 102,895 shares in the last quarter. 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.