Alpine Associates Management Inc. Buys New Stake in American Woodmark Corporation $AMWD

Alpine Associates Management Inc. purchased a new position in shares of American Woodmark Corporation (NASDAQ:AMWD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 209,424 shares of the company’s stock, valued at approximately $13,981,000. American Woodmark accounts for approximately 0.8% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 26th largest holding. Alpine Associates Management Inc. owned about 1.44% of American Woodmark as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of American Woodmark by 5.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,809 shares of the company’s stock worth $203,000 after buying an additional 206 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in American Woodmark by 0.7% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,422 shares of the company’s stock valued at $2,744,000 after acquiring an additional 356 shares during the period. Osaic Holdings Inc. grew its position in American Woodmark by 19.9% in the second quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock valued at $115,000 after acquiring an additional 357 shares during the period. Federated Hermes Inc. acquired a new position in American Woodmark during the third quarter worth $36,000. Finally, CWM LLC raised its stake in American Woodmark by 116.0% during the second quarter. CWM LLC now owns 1,296 shares of the company’s stock worth $69,000 after acquiring an additional 696 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMWD has been the topic of several analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 target price (up previously from $57.00) on shares of American Woodmark in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Woodmark in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.00.

American Woodmark Stock Performance

Shares of AMWD stock opened at $59.74 on Thursday. The stock has a 50-day moving average of $58.69 and a 200-day moving average of $60.73. American Woodmark Corporation has a one year low of $47.15 and a one year high of $78.88. The stock has a market cap of $870.41 million, a PE ratio of 14.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.15 and a quick ratio of 1.11.

American Woodmark (NASDAQ:AMWD) last posted its earnings results on Tuesday, November 25th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.44). American Woodmark had a return on equity of 7.13% and a net margin of 3.94%.The firm had revenue of $394.64 million during the quarter, compared to analyst estimates of $410.62 million. During the same quarter last year, the business posted $2.08 earnings per share. The company’s revenue for the quarter was down 12.8% on a year-over-year basis.

American Woodmark Profile

American Woodmark Corporation is a leading manufacturer and distributor of kitchen cabinets and bathroom vanities in North America. The company designs, builds and ships cabinetry products for a broad range of residential customers, including new-home builders, professional remodelers and specialty dealers. Its portfolio encompasses framed and frameless cabinet lines, along with accessory products such as mouldings, panels and hardware components. American Woodmark’s products are sold under the American Woodmark and Waypoint Living Spaces brands through a diversified network of home centers, independent dealers and direct-to-builder channels.

Headquartered in Winchester, Virginia, American Woodmark was founded in 1980 and has grown through a combination of organic expansion and strategic acquisitions.