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

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient 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. Based on an average daily trading volume, of 204,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.3% of the company’s shares are sold short.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $148.83 on Monday. Armstrong World Industries has a one year low of $96.69 and a one year high of $164.40. The stock has a market cap of $6.49 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.18. The business’s fifty day moving average price is $150.55 and its two-hundred day moving average price is $136.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

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

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued 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 of this dividend was Thursday, November 7th. Armstrong World Industries’s payout ratio is presently 21.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Loop Capital boosted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on 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. UBS Group raised their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a 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 report on Wednesday, October 9th. Finally, Truist Financial raised their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $140.83.

Hedge Funds Weigh In On Armstrong World Industries

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

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.