Shares Of American Woodmark Rise

HARTFORD, Conn. (AP) — Shares of American Woodmark Corp. rose Wednesday as an analyst said the cabinet maker is maintaining a strong position and is cutting costs.

"Through a series of plant closures, announced in April, AMWD is right sizing the operations to better match current demand levels, while allowing enough capacity to effectively serve the customers as demand increases," analyst J. Keith Johnson of Morgan Keegan & Co. Inc. said in a note to investors, using American Woodmark's stock symbol AMWD to refer to the company.

The Winchester, Va., company, blaming the housing slump, said it will close facilities in Berryville, Va., and Moorefield, W.Va., and will suspend operations in Tahlequah, Okla., until market conditions improve.

American Woodmark has scheduled the release of its fourth-quarter results for Friday.

Analysts surveyed by Thomson Reuters expect American Woodmark to post a loss of 5 cents per share.

Shares rose $1, or 5.7 percent, to $18.42 in afternoon trading.