Assenagon Asset Management S.A. Lowers Position in American Woodmark Corporation (NASDAQ:AMWD)

Assenagon Asset Management S.A. cut its stake in shares of American Woodmark Corporation (NASDAQ:AMWD) by 53.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,802 shares of the company’s stock after selling 31,837 shares during the period. Assenagon Asset Management S.A. owned about 0.19% of American Woodmark worth $1,636,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Paradigm Capital Management Inc. NY bought a new position in shares of American Woodmark during the fourth quarter valued at about $23,954,000. Franklin Resources Inc. increased its stake in American Woodmark by 266.0% in the 4th quarter. Franklin Resources Inc. now owns 372,390 shares of the company’s stock valued at $29,616,000 after buying an additional 270,644 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of American Woodmark by 1,570.6% during the 4th quarter. Victory Capital Management Inc. now owns 257,440 shares of the company’s stock worth $20,474,000 after buying an additional 242,030 shares in the last quarter. Atlas FRM LLC bought a new position in shares of American Woodmark during the 4th quarter worth approximately $9,066,000. Finally, Norges Bank purchased a new position in shares of American Woodmark in the 4th quarter worth approximately $5,675,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

American Woodmark Trading Down 2.8%

Shares of American Woodmark stock opened at $50.49 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.02 and a current ratio of 1.99. The stock has a market capitalization of $749.27 million, a P/E ratio of 7.79 and a beta of 1.25. American Woodmark Corporation has a 52-week low of $50.40 and a 52-week high of $106.57. The stock’s 50-day simple moving average is $57.21 and its 200 day simple moving average is $67.54.

American Woodmark (NASDAQ:AMWD) last announced its quarterly earnings results on Thursday, May 29th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.16. American Woodmark had a net margin of 5.82% and a return on equity of 11.09%. The company had revenue of $400.39 million for the quarter, compared to analysts’ expectations of $427.39 million. During the same period in the prior year, the company posted $1.70 EPS. American Woodmark’s revenue was down 11.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMWD shares. Loop Capital decreased their price target on American Woodmark from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Zelman & Associates restated an “underperform” rating on shares of American Woodmark in a report on Monday, April 14th. Wall Street Zen cut shares of American Woodmark from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird reduced their target price on shares of American Woodmark from $75.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, American Woodmark currently has an average rating of “Hold” and a consensus target price of $83.33.

American Woodmark 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.