21.1

American Woodmark Corporation (AMWD) is buying back $100 million, or 25%, of its total shares. Cramer believes not only that these buybacks show confidence within the company but also that less stock being available "will help you long-term." The stock is down 38% from its high in February. However, it recently increased its dividend 50% to 9 cents a share. It's a great sign when a company raises its dividend even though its stock is down, Cramer said. Cramer also likes the dividend and balance sheet. Cramer believes that American Woodmark, which is levered to the awful housing industry, is not going to go immediately up, so investors should wait at least five days before pulling the trigger and use limit orders, he said.

The Winchester, Va., maker of kitchen and bath cabinets said its board has authorized a new $100 million stock repurchase program. The previous $50 million program announced in November 2006 has nearly been completed.

In addition, the company decided to increase its dividend by 50% to 9 cents a share from the previous 6 cents.

The stock trades for 5x cash flow.

50%

90
mkt cap - 425.91M
roa - 9.57
roe - 13.92
trailing p/e - 13.99
fwd p/e - 13.84
PEG - 1.83
# qtrs missed in last 4: 3 (prev. 3 quarters well below estimates)

Downgraded by Matrix Research from Strong Buy to Hold

Manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets.

Upgraded by Matrix Research from Buy to Strong Buy