Armstrong World Industries, Inc. (NYSE:AWI) Short Interest Up 47.9% in March

Armstrong World Industries, Inc. (NYSE:AWI) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 625,900 shares, an increase of 47.9% from the February 28th total of 423,300 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 278,200 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On Armstrong World Industries

A number of large investors have recently bought and sold shares of AWI. Tealwood Asset Management Inc. grew its stake 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 valued at $1,313,000 after buying an additional 71 shares during the period. Arizona State Retirement System grew its position in Armstrong World Industries by 0.7% during the fourth quarter. Arizona State Retirement System now owns 12,683 shares of the construction company’s stock valued at $1,792,000 after acquiring an additional 82 shares during the period. Tidal Investments LLC increased its stake in Armstrong World Industries by 1.8% during the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company’s stock worth $740,000 after acquiring an additional 93 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Armstrong World Industries by 6.7% in the 4th quarter. Blue Trust Inc. now owns 1,523 shares of the construction company’s stock worth $215,000 after purchasing an additional 95 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in shares of Armstrong World Industries by 1.7% in the 4th quarter. Sanctuary Advisors LLC now owns 5,687 shares of the construction company’s stock valued at $865,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AWI shares. UBS Group lifted their price target on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Truist Financial lifted 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. The Goldman Sachs Group increased their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Trading Up 0.2 %

Shares of AWI stock traded up $0.30 during mid-day trading on Tuesday, hitting $141.18. 99,533 shares of the company’s stock were exchanged, compared to its average volume of 272,608. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 1.60 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a fifty-two week low of $110.68 and a fifty-two week high of $164.40. The stock has a 50-day simple moving average of $148.11 and a two-hundred day simple moving average of $145.74.

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

Armstrong World Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 6th. Armstrong World Industries’s dividend payout ratio (DPR) is 20.40%.

About Armstrong World Industries

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.