Vanguard Group Inc. Lowers Stake in American Woodmark Corporation $AMWD

Vanguard Group Inc. cut its stake in American Woodmark Corporation (NASDAQ:AMWD) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,266,588 shares of the company’s stock after selling 137,757 shares during the period. Vanguard Group Inc. owned about 0.09% of American Woodmark worth $84,557,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. bought a new stake in American Woodmark during the 3rd quarter valued at about $13,981,000. Millennium Management LLC raised its stake in shares of American Woodmark by 277.0% during the first quarter. Millennium Management LLC now owns 200,657 shares of the company’s stock valued at $11,805,000 after acquiring an additional 147,427 shares in the last quarter. Versor Investments LP purchased a new stake in shares of American Woodmark in the third quarter valued at approximately $3,430,000. Bank of America Corp DE grew its stake in American Woodmark by 67.0% in the second quarter. Bank of America Corp DE now owns 113,228 shares of the company’s stock worth $6,043,000 after purchasing an additional 45,407 shares in the last quarter. Finally, New York Life Investment Management LLC purchased a new position in American Woodmark during the 3rd quarter worth $2,952,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMWD shares. Robert W. Baird dropped their price target on American Woodmark from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Zelman & Associates upgraded shares of American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of American Woodmark in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, American Woodmark currently has a consensus rating of “Hold” and an average price target of $60.33.

American Woodmark Trading Down 1.8%

Shares of NASDAQ AMWD opened at $45.89 on Friday. American Woodmark Corporation has a 1-year low of $45.35 and a 1-year high of $72.15. The business has a fifty day moving average price of $58.08 and a 200 day moving average price of $60.17. The stock has a market capitalization of $668.62 million, a P/E ratio of 39.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.37 and a quick ratio of 1.13.

American Woodmark (NASDAQ:AMWD) last announced its earnings results on Thursday, February 26th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.34. The business had revenue of $324.30 million during the quarter, compared to the consensus estimate of $358.14 million. American Woodmark had a net margin of 1.15% and a return on equity of 6.15%. The firm’s revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share.

About American Woodmark

American Woodmark Corporation is a leading manufacturer and distributor of kitchen cabinets and bathroom vanities in North America. The company designs, builds and ships cabinetry products for a broad range of residential customers, including new-home builders, professional remodelers and specialty dealers. Its portfolio encompasses framed and frameless cabinet lines, along with accessory products such as mouldings, panels and hardware components. American Woodmark’s products are sold under the American Woodmark and Waypoint Living Spaces brands through a diversified network of home centers, independent dealers and direct-to-builder channels.

Headquartered in Winchester, Virginia, American Woodmark was founded in 1980 and has grown through a combination of organic expansion and strategic acquisitions.