Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Declines By 11.6%

Armstrong World Industries, Inc. (NYSE:AWI) saw 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. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 306,600 shares, the short-interest ratio is presently 1.5 days.

Armstrong World Industries Stock Up 0.2 %

AWI stock traded up $0.29 during mid-day trading on Wednesday, reaching $128.82. 203,747 shares of the company traded hands, compared to its average volume of 324,887. 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’s 50 day moving average price is $123.69 and its 200 day moving average price is $119.45. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.73 and a beta of 1.14. Armstrong World Industries has a fifty-two week low of $68.35 and a fifty-two week high of $134.90.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The company had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. During the same quarter last year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. Allspring Global Investments Holdings LLC purchased a new position in shares of Armstrong World Industries in the 1st quarter worth approximately $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 purchasing an additional 105 shares during the period. YHB Investment Advisors Inc. bought a new position in Armstrong World Industries in the 1st quarter valued at $52,000. First Horizon Advisors Inc. increased its position 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 purchasing an additional 125 shares during the last quarter. Finally, CWM LLC raised 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 worth $73,000 after purchasing an additional 95 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AWI. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group raised their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.75.

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.