Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Expands By 12.4%

Armstrong World Industries, Inc. (NYSE:AWI) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 540,500 shares, a growth of 12.4% from the December 15th total of 480,800 shares. Based on an average daily volume of 204,500 shares, the short-interest ratio is currently 2.6 days. Approximately 1.3% of the company’s stock are short sold.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI upped their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. UBS Group raised their target price on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial lifted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Loop Capital lifted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $148.83 on Monday. The business has a 50 day simple moving average of $150.55 and a 200-day simple moving average of $136.56. Armstrong World Industries has a twelve month low of $96.69 and a twelve month high of $164.40. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.18. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same quarter in the prior year, the business earned $1.60 earnings per share. Armstrong World Industries’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.308 per share. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.83%. Armstrong World Industries’s payout ratio is 21.69%.

Institutional Trading of Armstrong World Industries

Large investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Armstrong World Industries by 639.8% in the fourth quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company’s stock worth $1,022,000 after purchasing an additional 6,251 shares in the last quarter. Ballentine Partners LLC grew its position in Armstrong World Industries by 10.9% in the 4th quarter. Ballentine Partners LLC now owns 1,918 shares of the construction company’s stock valued at $271,000 after buying an additional 188 shares in the last quarter. Park Avenue Securities LLC increased its stake in Armstrong World Industries by 21.7% during the 4th quarter. Park Avenue Securities LLC now owns 8,087 shares of the construction company’s stock valued at $1,143,000 after buying an additional 1,441 shares during the period. Tealwood Asset Management Inc. raised its position in shares of Armstrong World Industries by 0.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company’s stock worth $1,313,000 after buying an additional 71 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in shares of Armstrong World Industries by 107.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock worth $95,000 after acquiring an additional 349 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.