Wellington Management Group LLP Reduces 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 position in shares of American Woodmark Corporation (NASDAQ:AMWD - Free Report) by 56.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 184,034 shares of the company's stock after selling 239,140 shares during the quarter. Wellington Management Group LLP owned approximately 1.24% of American Woodmark worth $10,827,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMWD. Pzena Investment Management LLC raised its stake in American Woodmark by 71.7% during the first quarter. Pzena Investment Management LLC now owns 840,674 shares of the company's stock worth $49,457,000 after buying an additional 351,157 shares during the last quarter. Systematic Financial Management LP grew its stake in American Woodmark by 3.6% during the fourth quarter. Systematic Financial Management LP now owns 342,452 shares of the company's stock worth $27,235,000 after purchasing an additional 11,891 shares during the period. LSV Asset Management lifted its stake in American Woodmark by 22.3% in the first quarter. LSV Asset Management now owns 323,962 shares of the company's stock valued at $19,059,000 after buying an additional 59,010 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in American Woodmark by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 308,591 shares of the company's stock valued at $18,154,000 after buying an additional 4,009 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of American Woodmark during the 4th quarter worth approximately $23,954,000. 95.47% of the stock is owned by institutional investors.

American Woodmark Stock Down 0.7%

American Woodmark stock traded down $0.44 during trading on Monday, hitting $64.57. 115,101 shares of the company were exchanged, compared to its average volume of 300,234. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The business's 50 day moving average is $57.84 and its 200 day moving average is $58.77. American Woodmark Corporation has a 52 week low of $50.00 and a 52 week high of $104.28. The company has a market capitalization of $940.78 million, a P/E ratio of 11.55 and a beta of 1.21.

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

Analyst Ratings Changes

A number of research firms have commented on AMWD. Loop Capital reduced 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. Robert W. Baird raised their target price on American Woodmark from $64.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Wall Street Zen lowered American Woodmark from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.