Meros Investment Management LP Acquires Shares of 30,000 American Woodmark Corporation $AMWD

Key Points

• Meros Investment Management LP acquired a new stake in American Woodmark Corporation, purchasing 30,000 shares valued at approximately $1.77 million, which accounts for about 0.20% ownership.
• Several institutional investors have significantly increased their stakes; for instance, GAMMA Investing LLC raised its position by 7,721.1% during the 1st quarter.
• American Woodmark reported $1.61 EPS for the last quarter, exceeding estimates, but its revenue was down 11.7% year-over-year, indicating challenges in the market.

Meros Investment Management LP purchased a new position in shares of American Woodmark Corporation (NASDAQ:AMWD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the company's stock, valued at approximately $1,765,000. Meros Investment Management LP owned about 0.20% of American Woodmark at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of American Woodmark by 37.5% in the 4th quarter. JPMorgan Chase & Co. now owns 63,875 shares of the company's stock valued at $5,080,000 after acquiring an additional 17,412 shares during the period. Russell Investments Group Ltd. raised its position in American Woodmark by 630.0% in the fourth quarter. Russell Investments Group Ltd. now owns 16,439 shares of the company's stock valued at $1,307,000 after purchasing an additional 14,187 shares during the period. Sterling Capital Management LLC lifted its stake in shares of American Woodmark by 842.0% during the fourth quarter. Sterling Capital Management LLC now owns 471 shares of the company's stock worth $37,000 after purchasing an additional 421 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of American Woodmark in the fourth quarter worth about $1,026,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of American Woodmark by 1.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 15,420 shares of the company's stock valued at $1,227,000 after buying an additional 200 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

American Woodmark Trading Down 3.6%

Shares of AMWD stock traded down $2.3330 during trading hours on Wednesday, reaching $62.3270. 111,745 shares of the stock traded hands, compared to its average volume of 168,780. The business has a fifty day moving average price of $55.73 and a 200 day moving average price of $59.50. The firm has a market capitalization of $903.74 million, a PE ratio of 9.62 and a beta of 1.20. American Woodmark Corporation has a 1-year low of $50.00 and a 1-year high of $104.28. The company has a quick ratio of 1.02, a current ratio of 1.99 and a debt-to-equity ratio of 0.40.

American Woodmark (NASDAQ:AMWD - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.16. The firm had revenue of $400.39 million for the quarter, compared to analyst estimates of $427.39 million. American Woodmark had a net margin of 5.82% and a return on equity of 11.09%. The company's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 EPS.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMWD shares. Wall Street Zen downgraded shares of American Woodmark from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Loop Capital decreased their price target on shares of American Woodmark from $75.00 to $72.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Robert W. Baird lowered their price objective on American Woodmark from $75.00 to $68.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $70.00.

About American Woodmark

American Woodmark Corporation manufactures and distributes kitchen, bath, office, home organization, and hardware products for the remodelling and new home construction markets in the United States. The company offers made-to-order and cash and carry products. It also provides turnkey installation services to its direct builder customers through a network of eight service centers.