American Woodmark Corp. (AMWD) Announces Quarterly Earnings Results, Misses Expectations By $0.10 EPS
American Woodmark Corp. (NASDAQ:AMWD) announced its quarterly earnings data on Tuesday. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by $0.10. American Woodmark Corp. had a net margin of 6.70% and a return on equity of 23.08%. The firm had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $278.61 million. During the same period last year, the company posted $1.10 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Shares of American Woodmark Corp. (NASDAQ:AMWD) opened at 74.15 on Wednesday. The stock’s 50 day moving average is $77.17 and its 200-day moving average is $75.66. The stock has a market cap of $1.21 billion, a P/E ratio of 18.68 and a beta of 1.42. American Woodmark Corp. has a one year low of $57.04 and a one year high of $89.89.
Several brokerages recently commented on AMWD. Zacks Investment Research downgraded shares of American Woodmark Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Robert W. Baird increased their price objective on shares of American Woodmark Corp. from $78.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th.
In other news, major shareholder William F. Brandt sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $74.84, for a total transaction of $224,520.00. Following the completion of the transaction, the insider now directly owns 1,923,165 shares of the company’s stock, valued at approximately $143,929,668.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James G. Davis sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $85.37, for a total value of $426,850.00. Following the transaction, the director now directly owns 19,860 shares of the company’s stock, valued at $1,695,448.20. The disclosure for this sale can be found here. 14.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its position in shares of American Woodmark Corp. by 50.3% in the second quarter. TIAA CREF Investment Management LLC now owns 187,562 shares of the company’s stock valued at $12,450,000 after buying an additional 62,734 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of American Woodmark Corp. during the second quarter valued at $1,968,000. Pacad Investment Ltd. acquired a new position in shares of American Woodmark Corp. during the second quarter valued at $113,000. King Luther Capital Management Corp acquired a new position in shares of American Woodmark Corp. during the second quarter valued at $5,372,000. Finally, American International Group Inc. increased its position in shares of American Woodmark Corp. by 4.4% in the second quarter. American International Group Inc. now owns 10,264 shares of the company’s stock valued at $681,000 after buying an additional 429 shares during the last quarter. 79.58% of the stock is owned by institutional investors and hedge funds.
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American Woodmark Corp. Company Profile
American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. The Company offers framed stock cabinets in approximately 500 different cabinet lines, ranging in price from relatively inexpensive to medium-priced styles. Styles vary by design and color from natural wood finishes to low-pressure laminate surfaces.
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