Armstrong World Industries, Inc. (NYSE:AWI) Short Interest Down 13.3% in February

Armstrong World Industries, Inc. (NYSE:AWI) was the target of a large 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. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 237,800 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of Armstrong World Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares during the period. BNP Paribas Financial Markets grew its holdings in Armstrong World Industries by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after acquiring an additional 5,191 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Armstrong World Industries by 230.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock worth $5,708,000 after acquiring an additional 30,273 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Armstrong World Industries during the 3rd quarter valued at about $1,035,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock valued at $62,074,000 after purchasing an additional 18,333 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 0.0 %

Shares of AWI traded down $0.01 on Wednesday, reaching $141.46. The company’s stock had a trading volume of 36,503 shares, compared to its average volume of 281,911. 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 has a twelve month low of $110.68 and a twelve month high of $164.40. The stock has a market capitalization of $6.15 billion, a PE ratio of 24.95, a PEG ratio of 1.60 and a beta of 1.25. The firm has a fifty day moving average of $148.57 and a 200-day moving average of $144.47.

Armstrong World Industries (NYSE:AWI) last released 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 firm had revenue of $367.70 million during 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%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. Equities analysts predict that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is presently 20.40%.

Analyst Ratings Changes

Several brokerages have recently commented on AWI. 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. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Truist Financial lifted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average 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.