American Woodmark Corp. (AMWD) Sees Strong Trading Volume
American Woodmark Corp. (NASDAQ:AMWD) shares saw unusually-high trading volume on Thursday . Approximately 167,126 shares were traded during trading, an increase of 37% from the previous session’s volume of 121,909 shares.The stock last traded at $75.12 and had previously closed at $74.85.
AMWD has been the subject of a number of research reports. Zacks Investment Research raised American Woodmark Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Robert W. Baird raised American Woodmark Corp. from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Friday, June 3rd. They noted that the move was a valuation call.
The firm has a 50 day moving average price of $73.86 and a 200 day moving average price of $71.03. The company has a market capitalization of $1.22 billion and a P/E ratio of 21.04.
American Woodmark Corp. (NASDAQ:AMWD) last posted its quarterly earnings results on Thursday, June 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by $0.03. The firm earned $240.90 million during the quarter, compared to the consensus estimate of $237.16 million. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. Equities analysts expect that American Woodmark Corp. will post $4.00 EPS for the current fiscal year.
In related news, Director William F. Brandt sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $74.97, for a total value of $74,970.00. Following the completion of the sale, the director now owns 2,086,065 shares in the company, valued at approximately $156,392,293.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven Cary Dunston sold 8,267 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $65.45, for a total transaction of $541,075.15. Following the completion of the sale, the insider now owns 50,738 shares of the company’s stock, valued at approximately $3,320,802.10. The disclosure for this sale can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in American Woodmark Corp. by 7.1% in the fourth quarter. Rhumbline Advisers now owns 16,119 shares of the company’s stock worth $1,289,000 after buying an additional 1,070 shares in the last quarter. New York State Common Retirement Fund boosted its stake in American Woodmark Corp. by 30.0% in the fourth quarter. New York State Common Retirement Fund now owns 62,119 shares of the company’s stock worth $4,968,000 after buying an additional 14,343 shares in the last quarter. Victory Capital Management Inc. boosted its stake in American Woodmark Corp. by 3,709.1% in the fourth quarter. Victory Capital Management Inc. now owns 39,881 shares of the company’s stock worth $3,190,000 after buying an additional 38,834 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in American Woodmark Corp. during the fourth quarter worth approximately $10,109,000. Finally, Dimensional Fund Advisors LP boosted its stake in American Woodmark Corp. by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 679,180 shares of the company’s stock worth $54,321,000 after buying an additional 37,324 shares in the last quarter.
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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