Short Interest in Armstrong World Industries Inc (AWI) Decreases By 43.1%

Armstrong World Industries Inc (NYSE:AWI) was the recipient of a large decrease in short interest in September. As of September 28th, there was short interest totalling 825,692 shares, a decrease of 43.1% from the September 14th total of 1,449,920 shares. Based on an average daily volume of 481,221 shares, the short-interest ratio is presently 1.7 days. Currently, 1.6% of the shares of the company are short sold.

In related news, insider Valueact Capital Master Fund, sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $70.11, for a total transaction of $2,103,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Holdings L.P. Valueact sold 100,000 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $70.03, for a total transaction of $7,003,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,990 shares of company stock worth $11,766,762. Company insiders own 1.94% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AWI. Sun Life Financial INC bought a new stake in Armstrong World Industries in the second quarter worth about $108,000. Mount Yale Investment Advisors LLC bought a new stake in Armstrong World Industries in the first quarter worth about $137,000. SG Americas Securities LLC bought a new stake in Armstrong World Industries in the second quarter worth about $183,000. Captrust Financial Advisors raised its position in Armstrong World Industries by 157.0% in the second quarter. Captrust Financial Advisors now owns 3,136 shares of the construction company’s stock worth $198,000 after acquiring an additional 1,916 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in Armstrong World Industries in the third quarter worth about $210,000.

Shares of AWI traded down $3.43 during trading hours on Friday, reaching $67.22. 1,451,520 shares of the stock traded hands, compared to its average volume of 602,469. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.46 and a quick ratio of 1.35. Armstrong World Industries has a 52 week low of $49.25 and a 52 week high of $73.45. The firm has a market capitalization of $3.49 billion, a P/E ratio of 22.26, a PEG ratio of 1.06 and a beta of 1.75.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). Armstrong World Industries had a net margin of 19.46% and a return on equity of 45.95%. The firm had revenue of $260.50 million for the quarter, compared to the consensus estimate of $252.96 million. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts expect that Armstrong World Industries will post 3.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, December 4th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, December 3rd.

Several research firms recently issued reports on AWI. SunTrust Banks reiterated a “positive” rating and set a $85.00 price target on shares of Armstrong World Industries in a research report on Friday. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price objective on shares of Armstrong World Industries in a research note on Friday, November 2nd. KeyCorp raised shares of Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 price target for the company in a research note on Friday, November 2nd. Goldman Sachs Group started coverage on shares of Armstrong World Industries in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Zacks Investment Research cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $69.88.

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About Armstrong World Industries

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.

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