Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Grows By 47.9%

Armstrong World Industries, Inc. (NYSE:AWI) saw a significant increase in short interest in 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. Approximately 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 278,200 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

AWI has been the topic of several research reports. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial boosted their price target 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. The Goldman Sachs Group lifted their price objective 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 Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Five 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $153.33.

Armstrong World Industries Stock Performance

NYSE AWI traded up $0.30 during trading hours on Tuesday, hitting $141.18. The company had a trading volume of 99,533 shares, compared to its average volume of 272,608. Armstrong World Industries has a 1-year low of $110.68 and a 1-year high of $164.40. 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 cap of $6.14 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The business has a 50 day moving average of $148.11 and a 200-day moving average of $145.74.

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, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. During the same period in the previous year, the business posted $1.22 earnings per share. Armstrong World Industries’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts expect that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Hedge Funds Weigh In On Armstrong World Industries

Institutional investors have recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in Armstrong World Industries in the fourth quarter worth $32,000. Quent Capital LLC increased its holdings in shares of Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after purchasing an additional 170 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Armstrong World Industries in the fourth quarter valued at about $33,000. Twin Tree Management LP purchased a new stake in Armstrong World Industries during the fourth quarter worth about $43,000. Finally, Point72 DIFC Ltd acquired a new position in Armstrong World Industries during the third quarter worth about $47,000. 98.93% of the stock is owned by institutional investors and hedge funds.

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.