Whirlpool Corporation (WHR) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan decreased its stake in shares of Whirlpool Corporation (NYSE:WHR) by 0.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,289 shares of the company’s stock after selling 200 shares during the period. State Treasurer State of Michigan’s holdings in Whirlpool Corporation were worth $4,654,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. Kentucky Retirement Systems bought a new position in shares of Whirlpool Corporation during the fourth quarter valued at $991,000. Capstone Asset Management Co. boosted its position in shares of Whirlpool Corporation by 8.0% in the first quarter. Capstone Asset Management Co. now owns 9,164 shares of the company’s stock valued at $1,570,000 after buying an additional 678 shares during the period. National Pension Service boosted its position in shares of Whirlpool Corporation by 11.0% in the first quarter. National Pension Service now owns 73,548 shares of the company’s stock valued at $12,514,000 after buying an additional 7,307 shares during the period. KCG Holdings Inc. bought a new position in shares of Whirlpool Corporation during the first quarter valued at $1,312,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Whirlpool Corporation by 2.4% in the first quarter. Canada Pension Plan Investment Board now owns 128,710 shares of the company’s stock valued at $22,052,000 after buying an additional 3,010 shares during the period. Institutional investors and hedge funds own 94.26% of the company’s stock.
Shares of Whirlpool Corporation (NYSE WHR) traded down 0.82% during midday trading on Friday, reaching $170.08. The company had a trading volume of 607,622 shares. Whirlpool Corporation has a 1-year low of $145.91 and a 1-year high of $202.99. The stock has a market capitalization of $12.41 billion, a PE ratio of 17.02 and a beta of 1.79. The company’s 50-day moving average is $184.00 and its 200-day moving average is $180.70.
Whirlpool Corporation (NYSE:WHR) last released its earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the business posted $3.50 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Whirlpool Corporation will post $14.64 EPS for the current year.
Whirlpool Corporation announced that its board has initiated a stock repurchase program on Wednesday, July 26th that allows the company to buyback $2.35 billion in shares. This buyback authorization allows the company to reacquire up to 16.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, August 23rd. Whirlpool Corporation’s dividend payout ratio is currently 44.04%.
A number of equities research analysts have recently commented on WHR shares. Credit Suisse Group started coverage on Whirlpool Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $208.00 target price on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $216.00 target price on shares of Whirlpool Corporation in a research note on Friday, June 2nd. BidaskClub cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $194.71.
In other Whirlpool Corporation news, Director William D. Perez bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $176.93 per share, for a total transaction of $176,930.00. Following the completion of the transaction, the director now owns 7,239 shares of the company’s stock, valued at approximately $1,280,796.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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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