Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Expands By 32.9%

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 634,300 shares, an increase of 32.9% from the October 31st total of 477,100 shares. Based on an average daily volume of 218,000 shares, the short-interest ratio is presently 2.9 days. Approximately 1.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AWI shares. Truist Financial boosted their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Jefferies Financial Group upped their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Loop Capital upped their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $140.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AWI. Transcendent Capital Group LLC bought a new position in Armstrong World Industries in the third quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in shares of Armstrong World Industries during the third quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC raised its position in shares of Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after purchasing an additional 89 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Armstrong World Industries in the 3rd quarter worth approximately $47,000. Finally, UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after purchasing an additional 153 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Down 0.2 %

Shares of Armstrong World Industries stock opened at $159.83 on Monday. The business has a 50-day moving average price of $143.79 and a 200 day moving average price of $128.21. Armstrong World Industries has a fifty-two week low of $83.59 and a fifty-two week high of $164.40. The firm has a market cap of $6.97 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.04 and a beta of 1.13. 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 (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same period in the previous year, the business earned $1.60 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.308 dividend. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.69%.

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.