Armstrong World Industries, Inc. (NYSE:AWI) Sees Large Increase in Short Interest

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 685,800 shares, an increase of 15.2% from the May 15th total of 595,500 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 327,600 shares, the short-interest ratio is currently 2.1 days.

Institutional Trading of Armstrong World Industries

Several institutional investors have recently bought and sold shares of AWI. Headlands Technologies LLC acquired a new position in shares of Armstrong World Industries during the 4th quarter worth approximately $27,000. Allspring Global Investments Holdings LLC acquired a new stake in Armstrong World Industries in the 1st quarter valued at $27,000. UMB Bank n.a. grew its stake in Armstrong World Industries by 67.3% in the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock valued at $32,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC purchased a new position in Armstrong World Industries during the fourth quarter valued at $49,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Armstrong World Industries in the first quarter valued at about $52,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Stock Up 1.1 %

Armstrong World Industries stock opened at $114.20 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The business’s 50-day moving average price is $115.85 and its 200 day moving average price is $110.22. Armstrong World Industries has a 52 week low of $68.35 and a 52 week high of $125.56.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. During the same quarter last year, the business earned $1.12 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Armstrong World Industries will post 5.89 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a $0.28 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.98%. Armstrong World Industries’s payout ratio is 21.05%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AWI. Evercore ISI upped their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 1st. UBS Group lifted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. Truist Financial increased their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group increased their price target on Armstrong World Industries from $111.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $110.17.

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.