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

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 423,300 shares, a decrease of 13.3% from the February 13th total of 488,300 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 237,800 shares, the days-to-cover ratio is presently 1.8 days.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. UBS Group increased their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group increased their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Truist Financial increased their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $153.33.

Armstrong World Industries Price Performance

Shares of Armstrong World Industries stock traded down $0.36 on Thursday, reaching $142.76. The stock had a trading volume of 2,121 shares, compared to its average volume of 267,872. Armstrong World Industries has a 1 year low of $110.68 and a 1 year high of $164.40. The company has a market cap of $6.20 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $148.58 and its two-hundred day moving average is $144.46.

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

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis 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%.

Institutional Investors Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in Armstrong World Industries during the fourth quarter valued at approximately $32,000. Quent Capital LLC grew its position in Armstrong World Industries by 288.1% during the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Fortitude Family Office LLC bought a new position in Armstrong World Industries during the fourth quarter valued at approximately $33,000. Twin Tree Management LP bought a new position in Armstrong World Industries during the fourth quarter valued at approximately $43,000. Finally, Point72 DIFC Ltd bought a new position in Armstrong World Industries during the third quarter valued at approximately $47,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.