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

Armstrong World Industries, Inc. (NYSE:AWI) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 634,300 shares, an increase of 32.9% from the October 31st total of 477,100 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 218,000 shares, the days-to-cover ratio is presently 2.9 days.

Armstrong World Industries Trading Down 0.2 %

Shares of AWI stock opened at $159.83 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock has a fifty day simple moving average of $143.79 and a two-hundred day simple moving average of $128.21. The firm has a market capitalization of $6.97 billion, a PE ratio of 28.19, a PEG ratio of 2.04 and a beta of 1.13. Armstrong World Industries has a 52-week low of $83.59 and a 52-week high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the business posted $1.60 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts predict that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.308 dividend. This represents a $1.23 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is 21.69%.

Hedge Funds Weigh In On Armstrong World Industries

A number of hedge funds and other institutional investors have recently modified their holdings of AWI. Jupiter Asset Management Ltd. lifted its stake in Armstrong World Industries by 1,369.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after purchasing an additional 229,378 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after buying an additional 145,133 shares during the last quarter. Natixis Advisors LLC grew its holdings in Armstrong World Industries by 35.0% during the 2nd quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after buying an additional 110,111 shares in the last quarter. Squarepoint Ops LLC increased its stake in Armstrong World Industries by 171.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after acquiring an additional 79,475 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Armstrong World Industries by 27.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock worth $35,385,000 after acquiring an additional 67,954 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AWI shares. Loop Capital increased their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group increased their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI upped their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $140.83.

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.