Armstrong World Industries, Inc. (NYSE:AWI) Sees Large Growth in Short Interest

Key Points

• Short interest in Armstrong World Industries rose by 34.5% in August, totaling 777,500 shares, indicating increased bearish sentiment among investors.
• Institutional investors own approximately 98.93% of Armstrong World Industries stock, highlighting strong institutional support.
• Analysts have set a consensus target price of $177.13 for Armstrong World Industries, with ratings ranging from "buy" to "hold" across multiple firms.

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 777,500 shares, a growth of 34.5% from the July 31st total of 577,900 shares. Currently, 1.8% of the company's stock are sold short. Based on an average daily volume of 338,100 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily volume of 338,100 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.8% of the company's stock are sold short.

Wall Street Analyst Weigh In

AWI has been the topic of a number of research reports. Evercore ISI increased their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. UBS Group reissued a "neutral" rating and set a $178.00 target price (up from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Loop Capital set a $190.00 target price on shares of Armstrong World Industries and gave the stock a "hold" rating in a report on Wednesday, July 30th. Truist Financial increased their target price on shares of Armstrong World Industries from $195.00 to $230.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wall Street Zen cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $181.50.

Armstrong World Industries Stock Performance

Shares of AWI stock traded down $2.51 during trading hours on Friday, reaching $196.62. The stock had a trading volume of 258,173 shares, compared to its average volume of 336,380. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. Armstrong World Industries has a twelve month low of $122.37 and a twelve month high of $200.84. The firm has a 50-day simple moving average of $185.15 and a 200-day simple moving average of $160.82. The firm has a market capitalization of $8.51 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.46.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The business had revenue of $424.60 million for the quarter, compared to analysts' expectations of $404.05 million. During the same quarter last year, the company earned $1.62 EPS. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, equities analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, August 7th. Armstrong World Industries's dividend payout ratio is currently 18.20%.

Hedge Funds Weigh In On Armstrong World Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new position in Armstrong World Industries in the 2nd quarter valued at about $32,000. Golden State Wealth Management LLC grew its position in Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after buying an additional 140 shares in the last quarter. Headlands Technologies LLC bought a new position in Armstrong World Industries in the 2nd quarter valued at about $46,000. MassMutual Private Wealth & Trust FSB grew its position in Armstrong World Industries by 652.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock valued at $47,000 after buying an additional 287 shares in the last quarter. Finally, MAI Capital Management bought a new position in Armstrong World Industries in the 2nd quarter valued at about $47,000. Institutional investors own 98.93% of the company's stock.

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.