Short Interest in Armstrong World Industries Inc (NYSE:AWI) Drops By 11.3%

Armstrong World Industries Inc (NYSE:AWI) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,322,400 shares, a decline of 11.3% from the May 30th total of 1,491,100 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average trading volume of 471,300 shares, the short-interest ratio is presently 2.8 days.

Several research analysts have recently commented on AWI shares. KeyCorp reduced their price target on G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Zacks Investment Research lowered HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. SunTrust Banks lowered shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $43.00 to $39.05 in a report on Tuesday, June 18th. Bank of America boosted their price objective on shares of Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Zelman & Associates lowered shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Armstrong World Industries presently has a consensus rating of “Hold” and a consensus target price of $91.23.

In other news, SVP Ellen R. Romano sold 6,500 shares of Armstrong World Industries stock in a transaction on Monday, May 6th. The stock was sold at an average price of $88.21, for a total transaction of $573,365.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stephen F. Mcnamara sold 7,778 shares of Armstrong World Industries stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $87.26, for a total value of $678,708.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,188 shares of company stock worth $6,804,574. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. Macquarie Group Ltd. acquired a new position in Armstrong World Industries in the 4th quarter valued at about $29,000. Quadrant Capital Group LLC acquired a new position in Armstrong World Industries in the 1st quarter valued at about $52,000. Captrust Financial Advisors grew its position in Armstrong World Industries by 13.4% in the 4th quarter. Captrust Financial Advisors now owns 2,604 shares of the construction company’s stock valued at $152,000 after acquiring an additional 308 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Armstrong World Industries in the 1st quarter valued at about $167,000. Finally, Qtron Investments LLC acquired a new position in shares of Armstrong World Industries during the first quarter worth about $203,000.

Shares of AWI opened at $98.71 on Friday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.14 and a beta of 1.67. Armstrong World Industries has a 12-month low of $54.34 and a 12-month high of $100.37. The firm has a 50-day moving average of $95.02. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.15 and a current ratio of 1.27.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.15. The company had revenue of $242.10 million during the quarter, compared to the consensus estimate of $247.38 million. Armstrong World Industries had a return on equity of 63.92% and a net margin of 19.92%. Armstrong World Industries’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. As a group, research analysts anticipate that Armstrong World Industries will post 4.55 earnings per share for the current year.

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 in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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