Whirlpool Corporation (WHR) Position Cut by Adell Harriman & Carpenter Inc.
Adell Harriman & Carpenter Inc. decreased its stake in shares of Whirlpool Corporation (NYSE:WHR) by 31.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,010 shares of the company’s stock after selling 1,411 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Whirlpool Corporation were worth $577,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of WHR. Dupont Capital Management Corp bought a new position in Whirlpool Corporation during the second quarter worth approximately $100,000. Global X Management Co. LLC boosted its position in Whirlpool Corporation by 33.1% in the first quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after buying an additional 246 shares in the last quarter. IBM Retirement Fund bought a new position in Whirlpool Corporation during the second quarter worth approximately $205,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Whirlpool Corporation during the second quarter worth approximately $206,000. Finally, Wetherby Asset Management Inc. bought a new position in Whirlpool Corporation during the second quarter worth approximately $206,000. 94.26% of the stock is owned by institutional investors.
Whirlpool Corporation (NYSE:WHR) opened at 170.08 on Friday. Whirlpool Corporation has a 1-year low of $145.91 and a 1-year high of $202.99. The stock has a market cap of $12.41 billion, a PE ratio of 17.02 and a beta of 1.79. The firm has a 50-day moving average of $184.00 and a 200-day moving average of $180.70.
Whirlpool Corporation (NYSE:WHR) last released its earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share 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 the consensus estimate of $5.35 billion. During the same quarter last year, the business posted $3.50 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Whirlpool Corporation will post $14.64 EPS for the current fiscal year.
Whirlpool Corporation announced that its board has authorized 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 purchase up to 16.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $4.40 annualized dividend and a dividend yield of 2.59%. Whirlpool Corporation’s dividend payout ratio (DPR) is 44.04%.
A number of equities analysts have commented on WHR shares. BidaskClub cut shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group started coverage on shares of Whirlpool Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 price target for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $216.00 price target on shares of Whirlpool Corporation in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. 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. Whirlpool Corporation 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 firm’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost 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 in the company, valued at $1,280,796.27. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.69% of the stock is currently owned by company insiders.
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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