Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Increases By 21.1%

Armstrong World Industries, Inc. (NYSE:AWI) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 555,000 shares, a growth of 21.1% from the September 30th total of 458,200 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 239,500 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

AWI has been the topic of several recent research reports. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group upped 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. Truist Financial upped their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Loop Capital upped their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded up $0.33 on Wednesday, hitting $140.33. The company’s stock had a trading volume of 239,051 shares, compared to its average volume of 311,852. Armstrong World Industries has a 52-week low of $74.37 and a 52-week high of $143.07. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average price of $131.30 and a 200-day moving average price of $122.40. The company has a market capitalization of $6.14 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts expect that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is 23.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AWI. Allspring Global Investments Holdings LLC purchased a new position in Armstrong World Industries in the 1st quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Armstrong World Industries during the 3rd quarter valued at about $31,000. First Horizon Advisors Inc. increased its stake in shares of Armstrong World Industries by 33.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after acquiring an additional 125 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Armstrong World Industries by 53.7% during the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after acquiring an additional 153 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Armstrong World Industries by 17.3% during the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after acquiring an additional 95 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.