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

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group boosted 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 note on Friday, February 28th. UBS Group boosted their target price 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. Truist Financial raised their price target on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Armstrong World Industries presently has an average rating of “Hold” and a consensus price target of $153.33.

Institutional Inflows and Outflows

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

Armstrong World Industries Stock Performance

NYSE AWI traded down $4.79 during midday trading on Friday, hitting $139.49. The company had a trading volume of 218,614 shares, compared to its average volume of 272,650. The firm has a fifty day simple moving average of $148.27 and a two-hundred day simple moving average of $145.62. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.60 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a fifty-two week low of $110.68 and a fifty-two week high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share 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 firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. Equities analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.308 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.88%. Armstrong World Industries’s payout ratio is 20.40%.

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.