Armstrong World Industries, Inc. (NYSE:AWI) Short Interest Update

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of 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 trading volume, of 306,600 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in Armstrong World Industries during the 1st quarter worth approximately $27,000. UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 67.3% in the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after purchasing an additional 105 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Armstrong World Industries in the 1st quarter worth $52,000. First Horizon Advisors Inc. grew its position in Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after purchasing an additional 125 shares during the period. Finally, CWM LLC increased its stake in 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 purchasing an additional 95 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Trading Up 0.2 %

NYSE AWI traded up $0.29 during trading hours on Wednesday, hitting $128.82. 203,747 shares of the company’s stock were exchanged, compared to its average volume of 324,887. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.73 and a beta of 1.14. The stock has a 50-day simple moving average of $123.69 and a 200 day simple moving average of $119.45. 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 has a 1-year low of $68.35 and a 1-year high of $134.90.

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

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.87%. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

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

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.