Short Interest in Armstrong World Industries, Inc. (NYSE:AWI) Increases By 21.1%

Armstrong World Industries, Inc. (NYSE:AWI) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 555,000 shares, an increase of 21.1% from the September 30th total of 458,200 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average trading volume of 239,500 shares, the days-to-cover ratio is presently 2.3 days.

Armstrong World Industries Stock Up 0.2 %

Shares of Armstrong World Industries stock traded up $0.33 on Wednesday, hitting $140.33. 239,051 shares of the company’s stock traded hands, compared to its average volume of 311,852. The stock has a market cap of $6.14 billion, a P/E ratio of 26.38, a PEG ratio of 1.92 and a beta of 1.14. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The firm’s 50-day moving average is $131.30 and its 200 day moving average is $122.40. Armstrong World Industries has a 52-week low of $74.37 and a 52-week high of $143.07.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same period last year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts anticipate that Armstrong World Industries will post 6.07 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 23.12%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AWI. UBS Group increased their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, Loop Capital increased their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $140.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in Armstrong World Industries during the first quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in Armstrong World Industries during the third quarter worth about $31,000. UMB Bank n.a. boosted its position in shares of Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after purchasing an additional 153 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after purchasing an additional 125 shares during the period. Finally, Covestor Ltd boosted its position in shares of Armstrong World Industries by 20.4% in the 1st quarter. Covestor Ltd now owns 596 shares of the construction company’s stock valued at $74,000 after purchasing an additional 101 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.