The stock is trading at $53.80 just a bit higher than $51.00, the stock’s 50 day moving average and much higher than the 200 day moving average of $46.79. The 50 day moving average went up by +5.49% whereas the 200 day moving average was up $7.01 or +14.98%. 350K shares changed hands on Tuesday. Volume was down 50.45% under the stocks average daily volume.
Short traders are more bullish on shares of the company lately as shown by the decrease in short interest. The stock experienced a fall in short interest between September 15, 2017 and September 29, 2017 of -18.66%. Short interest fell 693,711 over that period. The days to cover increased to 11.0 and the short interest percentage is 0.06% as of September 29.
These funds have shifted positions in (AWI). 13d Management LLC reduced its stake by shedding 7,521 shares a decrease of 3.6% as of 06/30/2017. 13d Management LLC controls 199,984 shares valued at $9,199,000. The value of the position overall is down by 3.7%. Cantab Capital Partners Llp grew its investment by buying 4,750 shares an increase of 54.3%. Cantab Capital Partners Llp claims 13,497 shares with a value of $621,000,000. The total value of its holdings increased 153,994.3%.
Balter Liquid Alternatives, LLC expanded its ownership by buying 7,859 shares an increase of 18.4% from 06/30/2017 to 09/30/2017. Balter Liquid Alternatives, LLC currently owns 50,528 shares worth $2,590,000. The total value of its holdings increased 31.9%. As of quarter end Skylands Capital, LLC had disposed of 4,800 shares trimming its stake by 8.2%. The value of the investment in AWI increased from $2,700,000 to $2,762,000 a change of $62,000 since the last quarter.
August 2 investment analysts at Deutsche Bank kept the stock rating at “Buy” but lowered the price target to $53.00 from $64.00. On October 20 Citigroup left the stock rating at “Neutral” and raised the price expectation from $45.00 to $58.00.
The company currently has a P/E ratio of 17.47 and market cap is 2.85B. As of the last earnings report the EPS was $3.08 and is expected to be $2.73 for the current year with 52,888,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.55 with next year’s EPS anticipated to be $3.02.
Armstrong World Industries, Inc. (AWI), launched on December 30, 1891, is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings. The Business’s geographical segments include Americas (including Canada); Europe, Middle East and Africa (including Russia) (EMEA), and Pacific Rim. Its Americas segment sells products for use in single and multi-family housing. As of December 31, 2016, it had 15 manufacturing plants in eight countries, including six plants located throughout the United States..