Armstrong World Industries, Inc. (NYSE:AWI) Sees Significant Decrease in Short Interest

Armstrong World Industries, Inc. (NYSE:AWI) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 423,300 shares, a decline of 13.3% from the February 13th total of 488,300 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 237,800 shares, the short-interest ratio is presently 1.8 days.

Institutional Investors Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Armstrong World Industries by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock valued at $656,922,000 after buying an additional 34,579 shares in the last quarter. State Street Corp grew its holdings in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after buying an additional 51,839 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Armstrong World Industries by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after acquiring an additional 19,787 shares during the period. Geode Capital Management LLC raised its position in Armstrong World Industries by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company’s stock valued at $125,444,000 after purchasing an additional 35,738 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after buying an additional 389,000 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. UBS Group upped their target price on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Truist Financial upped their price target 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. Finally, The Goldman Sachs Group upped 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 note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $153.33.

Armstrong World Industries Trading Down 0.0 %

NYSE:AWI traded down $0.01 on Wednesday, reaching $141.46. 36,503 shares of the company’s stock were exchanged, compared to its average volume of 281,911. Armstrong World Industries has a 52-week low of $110.68 and a 52-week high of $164.40. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth 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. The business 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 EPS for the quarter, beating 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 company had revenue of $367.70 million during the quarter, compared to the consensus estimate of $364.98 million. During the same quarter last year, the company earned $1.22 earnings per share. Armstrong World Industries’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

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