Wolverine Asset Management LLC purchased a new stake in American Woodmark Co. (NASDAQ:AMWD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,500 shares of the company’s stock, valued at approximately $1,107,000.
A number of other hedge funds also recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new position in American Woodmark during the fourth quarter worth $2,226,000. Renaissance Technologies LLC increased its position in American Woodmark by 12.7% during the fourth quarter. Renaissance Technologies LLC now owns 742,101 shares of the company’s stock worth $96,659,000 after acquiring an additional 83,801 shares during the period. Alliancebernstein L.P. increased its position in American Woodmark by 9.1% during the fourth quarter. Alliancebernstein L.P. now owns 46,691 shares of the company’s stock worth $6,082,000 after acquiring an additional 3,891 shares during the period. Geode Capital Management LLC increased its position in American Woodmark by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 126,721 shares of the company’s stock worth $16,505,000 after acquiring an additional 810 shares during the period. Finally, Amalgamated Bank bought a new position in American Woodmark during the fourth quarter worth $268,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder William F. Brandt sold 9,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $129.02, for a total value of $1,161,180.00. Following the sale, the insider now owns 1,782,245 shares in the company, valued at approximately $229,945,249.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Cary Dunston sold 500 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $129.65, for a total transaction of $64,825.00. Following the completion of the sale, the insider now owns 47,109 shares in the company, valued at approximately $6,107,681.85. The disclosure for this sale can be found here. Insiders sold a total of 47,000 shares of company stock worth $6,153,810 in the last three months. Insiders own 1.10% of the company’s stock.
American Woodmark (NASDAQ:AMWD) last announced its quarterly earnings results on Friday, March 9th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.04). The business had revenue of $292.80 million during the quarter, compared to the consensus estimate of $276.60 million. American Woodmark had a net margin of 5.56% and a return on equity of 17.54%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. equities research analysts forecast that American Woodmark Co. will post 5.16 earnings per share for the current fiscal year.
Several brokerages have issued reports on AMWD. BidaskClub lowered shares of American Woodmark from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised shares of American Woodmark from a “hold” rating to a “strong-buy” rating and set a $138.00 price target on the stock in a report on Friday. Longbow Research raised shares of American Woodmark from a “neutral” rating to a “buy” rating in a report on Friday, February 9th. Finally, Robert W. Baird boosted their price target on shares of American Woodmark from $108.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $140.00.
TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/03/13/wolverine-asset-management-llc-purchases-new-stake-in-american-woodmark-co-amwd.html.
About American Woodmark
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.
Want to see what other hedge funds are holding AMWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Woodmark Co. (NASDAQ:AMWD).
Receive News & Ratings for American Woodmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Woodmark and related companies with MarketBeat.com's FREE daily email newsletter.