Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Declines By 11.6%

Armstrong World Industries, Inc. (NYSE:AWI) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 458,900 shares, a decline of 11.6% from the August 15th total of 519,300 shares. Based on an average daily volume of 306,600 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.1% of the shares of the company are sold short.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $0.29 during mid-day trading on Wednesday, hitting $128.82. The company had a trading volume of 203,747 shares, compared to its average volume of 324,887. The stock’s 50-day moving average price is $123.69 and its 200-day moving average price is $119.45. Armstrong World Industries has a 1 year low of $68.35 and a 1 year high of $134.90. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.73 and a beta of 1.14. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.55 by $0.07. The firm had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. On average, sell-side analysts forecast that Armstrong World Industries will post 6.07 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.28 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.87%. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group increased their price target on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Finally, Truist Financial increased their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.75.

Institutional Trading of Armstrong World Industries

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in Armstrong World Industries by 56.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after purchasing an additional 569,824 shares in the last quarter. Vanguard Group Inc. grew its position in Armstrong World Industries by 12.2% in the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock worth $468,315,000 after acquiring an additional 517,699 shares in the last quarter. Norges Bank bought a new position in Armstrong World Industries in the fourth quarter valued at $42,297,000. Los Angeles Capital Management LLC purchased a new stake in Armstrong World Industries during the first quarter valued at about $39,183,000. Finally, Jupiter Asset Management Ltd. raised its position in Armstrong World Industries by 1,369.3% during the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock valued at $27,872,000 after purchasing an additional 229,378 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.