Pzena Investment Management LLC Grows Position in American Woodmark Co. (NASDAQ:AMWD)

Pzena Investment Management LLC grew its position in American Woodmark Co. (NASDAQ:AMWD) by 59.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 483,562 shares of the company’s stock after acquiring an additional 179,644 shares during the quarter. Pzena Investment Management LLC’s holdings in American Woodmark were worth $45,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC increased its position in American Woodmark by 5.3% in the third quarter. Empowered Funds LLC now owns 84,792 shares of the company’s stock worth $7,924,000 after purchasing an additional 4,288 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of American Woodmark by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 15,410 shares of the company’s stock worth $1,440,000 after buying an additional 117 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of American Woodmark in the 3rd quarter worth about $297,000. WCM Investment Management LLC raised its position in shares of American Woodmark by 4.5% during the 3rd quarter. WCM Investment Management LLC now owns 187,044 shares of the company’s stock valued at $17,388,000 after buying an additional 8,059 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of American Woodmark by 54.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 15,875 shares of the company’s stock valued at $1,474,000 after acquiring an additional 5,598 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Woodmark

In other American Woodmark news, CEO Michael Scott Culbreth sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $90.95, for a total transaction of $318,325.00. Following the completion of the transaction, the chief executive officer now owns 109,932 shares in the company, valued at $9,998,315.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

American Woodmark Trading Up 0.4 %

Shares of NASDAQ AMWD traded up $0.42 during midday trading on Wednesday, reaching $94.89. 28,632 shares of the stock were exchanged, compared to its average volume of 149,779. The company has a 50 day simple moving average of $93.99 and a 200 day simple moving average of $90.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.14 and a current ratio of 1.98. The stock has a market capitalization of $1.47 billion, a P/E ratio of 14.00 and a beta of 1.61. American Woodmark Co. has a twelve month low of $70.58 and a twelve month high of $106.57.

American Woodmark (NASDAQ:AMWD) last released its quarterly earnings results on Tuesday, August 27th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.48). The business had revenue of $459.10 million for the quarter, compared to analysts’ expectations of $475.37 million. American Woodmark had a return on equity of 13.51% and a net margin of 5.97%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.78 earnings per share.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMWD. Robert W. Baird upped their price target on shares of American Woodmark from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Wolfe Research raised shares of American Woodmark from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Wednesday, August 14th. Finally, Loop Capital raised shares of American Woodmark from a “hold” rating to a “buy” rating and raised their price target for the stock from $98.00 to $119.00 in a report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, American Woodmark currently has an average rating of “Moderate Buy” and a consensus price target of $108.00.

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.