Armstrong World Industries Inc (NYSE:AWI) saw a significant decrease in short interest in the month of 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. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 481,221 shares, the days-to-cover ratio is currently 1.7 days.

In other news, Director Holdings L.P. Valueact sold 100,000 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $70.03, for a total value of $7,003,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark A. Hershey sold 2,217 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $70.04, for a total transaction of $155,278.68. Following the completion of the transaction, the senior vice president now directly owns 38,516 shares in the company, valued at $2,697,660.64. The disclosure for this sale can be found here. Insiders sold 1,667,990 shares of company stock worth $115,566,762 over the last three months. Insiders own 1.94% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Armstrong World Industries by 1.2% during the first quarter. Wells Fargo & Company MN now owns 74,061 shares of the construction company’s stock worth $4,170,000 after buying an additional 888 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Armstrong World Industries by 25.4% during the first quarter. Xact Kapitalforvaltning AB now owns 4,930 shares of the construction company’s stock worth $278,000 after buying an additional 1,000 shares in the last quarter. Amalgamated Bank grew its stake in Armstrong World Industries by 11.8% during the second quarter. Amalgamated Bank now owns 10,518 shares of the construction company’s stock worth $665,000 after buying an additional 1,108 shares in the last quarter. Ramsey Quantitative Systems grew its stake in Armstrong World Industries by 25.6% during the second quarter. Ramsey Quantitative Systems now owns 5,962 shares of the construction company’s stock worth $377,000 after buying an additional 1,217 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Armstrong World Industries by 32.3% during the second quarter. State of Alaska Department of Revenue now owns 5,370 shares of the construction company’s stock worth $339,000 after buying an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

AWI stock opened at $61.72 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.01 and a current ratio of 2.24. Armstrong World Industries has a 52 week low of $49.25 and a 52 week high of $73.45. The stock has a market capitalization of $3.60 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.12 and a beta of 1.70.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, July 31st. The construction company reported $1.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. Armstrong World Industries had a net margin of 15.18% and a return on equity of 41.92%. The business had revenue of $248.60 million for the quarter, compared to the consensus estimate of $245.81 million. During the same period in the prior year, the company posted $0.87 earnings per share. Armstrong World Industries’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Armstrong World Industries will post 3.74 EPS for the current year.

AWI has been the topic of several research reports. Goldman Sachs Group initiated coverage on shares of Armstrong World Industries in a research note on Tuesday, October 2nd. They issued a “neutral” rating and a $70.00 price target on the stock. Jefferies Financial Group restated a “hold” rating and issued a $68.00 price target on shares of Armstrong World Industries in a research note on Friday, July 20th. SunTrust Banks upped their price target on shares of Armstrong World Industries to $78.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, ValuEngine downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Armstrong World Industries currently has an average rating of “Hold” and an average price target of $67.13.

Armstrong World Industries Company Profile

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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