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

Key Points

• JPMorgan Chase cut its stake in American Woodmark by 69.3% in Q3, selling 45,748 shares and retaining 20,219 shares worth about $1.35 million (roughly 0.14% ownership).
• Other institutions were active: Citigroup boosted its holding by 2,117.7% to 400,343 shares, Pzena and Cooke & Bieler modestly increased stakes, and Magnetar and AQR initiated multi‑million‑dollar positions, leaving institutional investors with 95.47% ownership.
• American Woodmark posted an EPS beat ($0.45 vs. $0.11) despite revenue dropping 18.4% YoY to $324.3M; the stock trades near $41.83 with a ~$609M market cap and a consensus "Hold" rating (price target $60.33).

JPMorgan Chase & Co. lowered its stake in American Woodmark Corporation (NASDAQ:AMWD - Free Report) by 69.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,219 shares of the company's stock after selling 45,748 shares during the period. JPMorgan Chase & Co. owned approximately 0.14% of American Woodmark worth $1,350,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Pzena Investment Management LLC grew its stake in shares of American Woodmark by 0.4% in the third quarter. Pzena Investment Management LLC now owns 1,152,739 shares of the company's stock worth $76,957,000 after purchasing an additional 4,408 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of American Woodmark by 3.7% in the third quarter. Cooke & Bieler LP now owns 930,460 shares of the company's stock worth $62,118,000 after purchasing an additional 32,832 shares during the last quarter. Citigroup Inc. grew its stake in shares of American Woodmark by 2,117.7% in the third quarter. Citigroup Inc. now owns 400,343 shares of the company's stock worth $26,727,000 after purchasing an additional 382,291 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of American Woodmark in the third quarter worth about $20,665,000. Finally, AQR Arbitrage LLC bought a new stake in shares of American Woodmark in the third quarter worth about $15,722,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

American Woodmark Stock Up 2.9%

Shares of NASDAQ:AMWD opened at $41.83 on Friday. The stock has a fifty day simple moving average of $48.80 and a two-hundred day simple moving average of $55.64. The stock has a market capitalization of $609.46 million, a price-to-earnings ratio of 36.06 and a beta of 1.34. American Woodmark Corporation has a 12-month low of $35.51 and a 12-month high of $72.15. The company has a current ratio of 2.37, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.

American Woodmark (NASDAQ:AMWD - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share.

Analyst Ratings Changes

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

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