Wells Fargo & Company MN lifted its stake in Whirlpool Corporation (NYSE:WHR) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 621,593 shares of the company’s stock after purchasing an additional 824 shares during the period. Wells Fargo & Company MN owned approximately 0.85% of Whirlpool Corporation worth $119,110,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in shares of Whirlpool Corporation in the second quarter valued at about $100,000. Global X Management Co. LLC increased its holdings in Whirlpool Corporation by 33.1% during the 1st quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock valued at $169,000 after acquiring an additional 246 shares in the last quarter. IBM Retirement Fund purchased a new position in Whirlpool Corporation during the 2nd quarter valued at about $205,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Whirlpool Corporation during the 2nd quarter valued at about $206,000. Finally, Wetherby Asset Management Inc. purchased a new position in Whirlpool Corporation during the 2nd quarter valued at about $206,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Whirlpool Corporation (NYSE:WHR) opened at 173.60 on Tuesday. The firm’s 50-day moving average is $174.24 and its 200 day moving average is $180.20. The stock has a market capitalization of $12.67 billion, a P/E ratio of 17.38 and a beta of 1.77. Whirlpool Corporation has a 12-month low of $145.91 and a 12-month high of $202.99.
Whirlpool Corporation (NYSE:WHR) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a net margin of 3.61% and a return on equity of 18.17%. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company posted $3.50 earnings per share. Whirlpool Corporation’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Whirlpool Corporation will post $14.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $1.10 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $4.40 annualized dividend and a yield of 2.53%. Whirlpool Corporation’s payout ratio is presently 44.04%.
Whirlpool Corporation announced that its board has initiated a stock buyback program on Wednesday, July 26th that authorizes the company to buyback $2.35 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, Director William D. Perez acquired 1,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $176.93 per share, for a total transaction of $176,930.00. Following the acquisition, the director now owns 7,239 shares in the company, valued at $1,280,796.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.69% of the stock is currently owned by insiders.
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WHR has been the subject of several recent research reports. Credit Suisse Group initiated coverage on shares of Whirlpool Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 target price for the company. Zacks Investment Research downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded shares of Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating and set a $216.00 target price on shares of Whirlpool Corporation in a report on Friday, June 2nd. Finally, ValuEngine downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Whirlpool Corporation has a consensus rating of “Hold” and a consensus price target of $194.71.
Whirlpool Corporation Company Profile
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.
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