Franklin Resources Inc. has increased its investment in American Woodmark Corporation by 0.5% during the second quarter of 2023. According to a recent disclosure filed with the Securities and Exchange Commission (SEC), Franklin now owns 367,053 shares of American Woodmark, following the acquisition of an additional 1,955 shares in that period. This investment is valued at approximately $19.59 million, representing around 2.53% of the company’s total stock.
Several other institutional investors have also adjusted their positions in American Woodmark. Notably, GAMMA Investing LLC boosted its stake by 35.8%, now holding 1,080 shares valued at $58,000 after acquiring an additional 285 shares. Similarly, CWM LLC increased its holdings by 116.0%, owning 1,296 shares worth $69,000 after purchasing 696 shares in the same quarter. Additionally, Farther Finance Advisors LLC significantly lifted its stake by an astonishing 34,380.0%, now possessing 1,724 shares valued at $92,000 after acquiring 1,719 shares recently.
New positions were also created by EMC Capital Management, which invested $109,000 in American Woodmark during the second quarter, and the State of Wyoming, which acquired a stake valued at $172,000 in the first quarter. Overall, hedge funds and institutional investors collectively own approximately 95.47% of American Woodmark’s stock.
Analysts’ Perspectives and Stock Performance
Market analysts have recently issued reports concerning American Woodmark’s stock performance. Robert W. Baird reduced its target price from $67.00 to $57.00, assigning an “outperform” rating to the stock. On the other hand, Weiss Ratings maintained a “hold (c)” rating in its analysis released on October 8, 2023. Currently, two analysts have given a Buy rating, two have issued a Hold rating, and one has rated it as a Sell. As per data from MarketBeat, American Woodmark holds a consensus rating of “Hold” with an average price target of $64.50.
In terms of financial performance, American Woodmark shares opened at $55.36 on Friday. The company has a 50-day simple moving average of $61.20 and a 200-day simple moving average of $59.55. It reports a debt-to-equity ratio of 0.40, a quick ratio of 1.05, and a current ratio of 2.04. Over the past year, the stock has seen a low of $47.15 and a high of $94.29. American Woodmark’s market capitalization is approximately $806.54 million, with a price-to-earnings ratio of 9.90 and a beta of 1.22.
Recent Earnings Report
American Woodmark last reported its quarterly earnings on November 25, 2023. The company posted earnings per share (EPS) of $0.76, falling short of analysts’ expectations of $1.20 by $0.44. The firm had a return on equity of 9.43% and a net margin of 5.11%. Revenue was reported at $394.64 million, which was below the anticipated $410.62 million. When comparing to the same quarter last year, revenue decreased by 12.8%, while the prior year’s EPS was $2.08.
American Woodmark Corporation specializes in manufacturing and distributing kitchen, bath, office, and home organization products, catering to both the remodeling and new home construction markets in the United States. The company offers a range of products, including made-to-order and cash-and-carry options, and provides turnkey installation services to its builder customers through a network of eight service centers.
For those interested in tracking American Woodmark’s performance and hedge fund activities, detailed insights and 13F filings are available on platforms such as HoldingsChannel.com, providing an overview of recent trades and institutional holdings.
