Kennedy Capital Management Inc. reduced its position in Whirlpool Corporation (NYSE:WHR) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,454 shares of the company’s stock after selling 648 shares during the period. Kennedy Capital Management Inc.’s holdings in Whirlpool Corporation were worth $4,303,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WHR. Dupont Capital Management Corp purchased a new position in Whirlpool Corporation in the 2nd quarter worth approximately $100,000. Global X Management Co. LLC raised its holdings in Whirlpool Corporation by 33.1% in the 1st quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after acquiring an additional 246 shares during the last quarter. IBM Retirement Fund purchased a new position in Whirlpool Corporation in the 2nd quarter worth approximately $205,000. Scout Investments Inc. purchased a new position in Whirlpool Corporation in the 1st quarter worth approximately $206,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in Whirlpool Corporation in the 2nd quarter worth approximately $206,000. Institutional investors own 91.53% of the company’s stock.
Shares of Whirlpool Corporation (WHR) opened at 171.86 on Friday. The company has a market cap of $12.54 billion, a P/E ratio of 17.20 and a beta of 1.77. Whirlpool Corporation has a 52-week low of $145.91 and a 52-week high of $202.99. The firm has a 50-day moving average of $172.79 and a 200-day moving average of $180.01.
Whirlpool Corporation (NYSE:WHR) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.19). The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.50 EPS. Equities research analysts forecast that Whirlpool Corporation will post $14.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a $1.10 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.56%. Whirlpool Corporation’s dividend payout ratio is currently 44.04%.
Whirlpool Corporation declared that its board has initiated a share buyback program on Wednesday, July 26th that authorizes the company to repurchase $2.35 billion in shares. This repurchase authorization authorizes the company to buy up to 16.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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A number of brokerages recently weighed in on WHR. Royal Bank Of Canada restated a “top pick” rating and issued a $216.00 price objective (down from $226.00) on shares of Whirlpool Corporation in a report on Tuesday, June 20th. Credit Suisse Group began coverage on shares of Whirlpool Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 price objective for the company. BidaskClub lowered shares of Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, ValuEngine downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $194.71.
In related news, Director William D. Perez purchased 1,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $176.93 per share, with a total value of $176,930.00. Following the completion of the acquisition, the director now owns 7,239 shares in the company, valued at approximately $1,280,796.27. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.69% of the company’s stock.
About Whirlpool Corporation
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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