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

Armstrong World Industries, Inc. (NYSE:AWI) saw a large 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. Based on an average trading volume of 237,800 shares, the short-interest ratio is presently 1.8 days. Approximately 1.0% of the company’s shares are sold short.

Analysts Set New Price Targets

AWI has been the topic of several recent research reports. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial boosted their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. UBS Group increased their price target on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $153.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Armstrong World Industries during the 4th quarter worth approximately $316,000. Jefferies Financial Group Inc. acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at $338,000. Public Employees Retirement System of Ohio acquired a new position in Armstrong World Industries in the 4th quarter valued at about $2,326,000. Burgundy Asset Management Ltd. increased its stake in shares of Armstrong World Industries by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after purchasing an additional 19,787 shares during the period. Finally, Taylor Hoffman Capital Management LLC increased its position in Armstrong World Industries by 0.7% during the 4th quarter. Taylor Hoffman Capital Management LLC now owns 43,677 shares of the construction company’s stock worth $6,173,000 after buying an additional 293 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Price Performance

Shares of AWI opened at $141.25 on Friday. The stock has a 50 day simple moving average of $148.55 and a 200 day simple moving average of $144.44. Armstrong World Industries has a 52-week low of $110.68 and a 52-week high of $164.40. 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 firm has a market capitalization of $6.14 billion, a PE ratio of 24.91, a P/E/G ratio of 1.60 and a beta of 1.25.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.13. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. During the same quarter in the prior year, the company earned $1.22 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Sell-side analysts predict that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.308 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.87%. 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.