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

Armstrong World Industries, Inc. (NYSE:AWI) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 423,300 shares, a drop of 13.3% from the February 13th total of 488,300 shares. Based on an average trading volume of 237,800 shares, the short-interest ratio is currently 1.8 days. Approximately 1.0% of the shares of the stock are short sold.

Armstrong World Industries Trading Down 0.3 %

NYSE:AWI traded down $0.36 during trading hours on Thursday, hitting $142.76. The company had a trading volume of 2,121 shares, compared to its average volume of 267,872. The company has a market capitalization of $6.20 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The stock has a 50-day moving average price of $148.58 and a 200 day moving average price of $144.46. Armstrong World Industries has a 52 week low of $110.68 and a 52 week high of $164.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. The business had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, equities research analysts predict that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Hedge Funds Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in AWI. Victory Capital Management Inc. lifted its position in Armstrong World Industries by 230.1% during the third quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock valued at $5,708,000 after buying an additional 30,273 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Armstrong World Industries by 4.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock worth $245,000 after purchasing an additional 76 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Armstrong World Industries by 3.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 133,383 shares of the construction company’s stock worth $17,530,000 after purchasing an additional 4,334 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Armstrong World Industries by 25.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 634 shares of the construction company’s stock worth $83,000 after purchasing an additional 130 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Armstrong World Industries by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AWI. Truist Financial raised their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, UBS Group raised their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $153.33.

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.