Verition Fund Management LLC Acquires New Stake in American Woodmark Co. (NASDAQ:AMWD)

Verition Fund Management LLC acquired a new position in shares of American Woodmark Co. (NASDAQ:AMWD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,007 shares of the company’s stock, valued at approximately $748,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC increased its stake in shares of American Woodmark by 56.7% during the third quarter. CWM LLC now owns 622 shares of the company’s stock worth $58,000 after acquiring an additional 225 shares during the period. Innealta Capital LLC acquired a new position in American Woodmark during the 2nd quarter worth approximately $66,000. Picton Mahoney Asset Management purchased a new position in shares of American Woodmark during the 2nd quarter worth approximately $71,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of American Woodmark by 56.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,459 shares of the company’s stock valued at $114,000 after buying an additional 527 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in shares of American Woodmark in the 3rd quarter valued at approximately $184,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

AMWD has been the subject of several research analyst reports. Wolfe Research upgraded American Woodmark from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Wednesday, August 14th. Robert W. Baird increased their price target on shares of American Woodmark from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Loop Capital decreased their price objective on shares of American Woodmark from $119.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling

In other American Woodmark news, CEO Michael Scott Culbreth sold 3,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $9,998,315.40. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 10,500 shares of company stock worth $958,090 in the last ninety days. Insiders own 1.30% of the company’s stock.

American Woodmark Stock Down 0.9 %

American Woodmark stock opened at $88.62 on Tuesday. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 13.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.93. American Woodmark Co. has a fifty-two week low of $76.57 and a fifty-two week high of $106.57. The stock’s fifty day moving average is $94.17 and its two-hundred day moving average is $90.03.

American Woodmark (NASDAQ:AMWD) last posted its earnings results on Tuesday, November 26th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.29). American Woodmark had a net margin of 5.90% and a return on equity of 12.70%. The business had revenue of $452.50 million for the quarter, compared to analysts’ expectations of $458.29 million. During the same quarter last year, the business posted $2.36 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year.

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.