Wellington Management Group LLP Cuts Stock Position in American Woodmark Corporation $AMWD

Key Points

• Wellington Management Group LLP sold 239,140 shares of American Woodmark Corporation, reducing its stake by 56.5% to approximately 184,034 shares.
• American Woodmark reported earnings per share (EPS) of $1.01 for the last quarter, falling short of analysts' expectations of $1.14, and experienced a 12.2% year-over-year revenue decline.
• Research analysts maintain a consensus rating of "Hold" for American Woodmark, with a current price target set at $70.00.

Wellington Management Group LLP lessened its stake in American Woodmark Corporation (NASDAQ:AMWD - Free Report) by 56.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,034 shares of the company's stock after selling 239,140 shares during the period. Wellington Management Group LLP owned 1.24% of American Woodmark worth $10,827,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMWD. First Trust Advisors LP increased its stake in American Woodmark by 599.6% in the 4th quarter. First Trust Advisors LP now owns 43,490 shares of the company's stock worth $3,459,000 after buying an additional 37,274 shares during the period. MetLife Investment Management LLC increased its position in American Woodmark by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 9,602 shares of the company's stock valued at $764,000 after purchasing an additional 522 shares during the period. Tower Research Capital LLC TRC increased its position in American Woodmark by 256.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,356 shares of the company's stock valued at $346,000 after purchasing an additional 3,134 shares during the period. Aquatic Capital Management LLC purchased a new position in American Woodmark during the 4th quarter valued at about $519,000. Finally, Quarry LP increased its position in American Woodmark by 215.8% during the 4th quarter. Quarry LP now owns 379 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares during the period. Hedge funds and other institutional investors own 95.47% of the company's stock.

American Woodmark Stock Down 0.6%

Shares of American Woodmark stock traded down $0.38 on Tuesday, reaching $64.19. The stock had a trading volume of 131,706 shares, compared to its average volume of 294,574. The company has a 50 day moving average price of $58.32 and a 200 day moving average price of $58.71. The company has a quick ratio of 1.02, a current ratio of 2.04 and a debt-to-equity ratio of 0.40. American Woodmark Corporation has a 1 year low of $50.00 and a 1 year high of $104.28. The stock has a market capitalization of $935.25 million, a P/E ratio of 11.48 and a beta of 1.21.

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

Wall Street Analyst Weigh In

A number of research firms have commented on AMWD. Wall Street Zen downgraded shares of American Woodmark from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Loop Capital cut their target price on shares of American Woodmark from $75.00 to $72.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Robert W. Baird raised their target price on shares of American Woodmark from $64.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $70.00.

American Woodmark Company Profile

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.