Wedge Capital Management L L P NC Takes Position in American Woodmark Corporation $AMWD

Key Points

• Wedge Capital Management acquired a new position in American Woodmark Corporation, purchasing 18,785 shares valued at approximately $1,003,000 in the 2nd quarter.
• American Woodmark's latest quarterly earnings showed $1.01 earnings per share, missing expectations by $0.13, with revenue down 12.2% from the previous year.
• The stock currently has a consensus rating of "Hold" with an average target price of $70.00, indicating mixed analyst sentiments around its future performance.

Wedge Capital Management L L P NC purchased a new position in American Woodmark Corporation (NASDAQ:AMWD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,785 shares of the company's stock, valued at approximately $1,003,000. Wedge Capital Management L L P NC owned 0.13% of American Woodmark as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMWD. Public Employees Retirement System of Ohio purchased a new stake in American Woodmark in the fourth quarter worth $43,000. GAMMA Investing LLC grew its stake in American Woodmark by 32.9% in the first quarter. GAMMA Investing LLC now owns 795 shares of the company's stock worth $47,000 after purchasing an additional 197 shares during the period. State of Wyoming purchased a new stake in American Woodmark in the first quarter worth $172,000. XTX Topco Ltd purchased a new stake in American Woodmark in the first quarter worth $204,000. Finally, PNC Financial Services Group Inc. grew its stake in American Woodmark by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company's stock worth $234,000 after purchasing an additional 193 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

American Woodmark Trading Down 1.4%

Shares of American Woodmark stock opened at $65.44 on Tuesday. The company's fifty day simple moving average is $61.69 and its 200-day simple moving average is $58.61. The stock has a market capitalization of $953.46 million, a PE ratio of 11.71 and a beta of 1.21. American Woodmark Corporation has a 1-year low of $50.00 and a 1-year high of $104.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.04 and a quick ratio of 1.05.

American Woodmark (NASDAQ:AMWD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.13). The business had revenue of $403.05 million for the quarter, compared to analysts' expectations of $420.64 million. American Woodmark had a return on equity of 9.43% and a net margin of 5.11%.The company's revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS.

Analyst Ratings Changes

Several brokerages recently weighed in on AMWD. Loop Capital reduced their price target on American Woodmark from $75.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Robert W. Baird upped their price target on American Woodmark from $64.00 to $68.00 and gave the stock an "outperform" rating in a research note on Thursday, August 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's stock. According to MarketBeat, the stock currently has a consensus 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.

Want to see what other hedge funds are holding AMWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Woodmark Corporation (NASDAQ:AMWD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.