JPMorgan Chase & Co. Trims Position in American Woodmark Corporation $AMWD

JPMorgan Chase & Co. lessened its position in shares of American Woodmark Corporation (NASDAQ:AMWD) by 69.3% in the third quarter, Holdings Channel reports. The fund owned 20,219 shares of the company’s stock after selling 45,748 shares during the quarter. JPMorgan Chase & Co.’s holdings in American Woodmark were worth $1,350,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of AMWD. Osaic Holdings Inc. increased its holdings in American Woodmark by 19.9% during the second quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock valued at $115,000 after buying an additional 357 shares during the last quarter. Federated Hermes Inc. purchased a new stake in American Woodmark in the third quarter worth about $36,000. Mariner LLC increased its position in American Woodmark by 14.6% in the third quarter. Mariner LLC now owns 4,375 shares of the company’s stock worth $292,000 after buying an additional 558 shares in the last quarter. Rafferty Asset Management LLC increased its position in American Woodmark by 19.1% in the second quarter. Rafferty Asset Management LLC now owns 5,226 shares of the company’s stock worth $279,000 after buying an additional 838 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of American Woodmark during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

American Woodmark Price Performance

AMWD opened at $41.83 on Friday. The stock has a market cap of $609.46 million, a P/E ratio of 36.06 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 2.37 and a debt-to-equity ratio of 0.40. American Woodmark Corporation has a 52-week low of $35.51 and a 52-week high of $72.15. The business has a fifty day moving average of $48.80 and a 200 day moving average of $55.64.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMWD shares. Robert W. Baird decreased their price objective on shares of American Woodmark from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Weiss Ratings downgraded American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Finally, Zelman & Associates raised shares of American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research note on Friday, February 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, American Woodmark currently has a consensus rating of “Hold” and a consensus target price of $60.33.

American Woodmark Company Profile

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.