Cambria Investment Management L.P. Has $1.40 Million Stake in Whirlpool Corporation (WHR)
Cambria Investment Management L.P. cut its holdings in shares of Whirlpool Corporation (NYSE:WHR) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,290 shares of the company’s stock after selling 1,010 shares during the period. Cambria Investment Management L.P.’s holdings in Whirlpool Corporation were worth $1,397,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dupont Capital Management Corp acquired a new position in shares of Whirlpool Corporation during the second quarter worth approximately $100,000. Sun Life Financial INC boosted its position in shares of Whirlpool Corporation by 7,628.6% during the second quarter. Sun Life Financial INC now owns 541 shares of the company’s stock worth $104,000 after buying an additional 534 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Whirlpool Corporation by 26.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 644 shares of the company’s stock worth $123,000 after buying an additional 135 shares during the period. Global X Management Co. LLC boosted its position in shares of Whirlpool Corporation by 33.1% during 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 during the period. Finally, WESPAC Advisors SoCal LLC acquired a new position in shares of Whirlpool Corporation during the second quarter worth approximately $191,000. Institutional investors and hedge funds own 91.47% of the company’s stock.
Several brokerages have recently issued reports on WHR. Zacks Investment Research upgraded Whirlpool Corporation from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded Whirlpool Corporation from a “hold” rating to a “buy” rating in a research report on Monday. BidaskClub downgraded Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Credit Suisse Group began coverage on Whirlpool Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “top pick” rating and set a $216.00 price objective (down from $226.00) on shares of Whirlpool Corporation in a research report on Tuesday, June 20th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $193.17.
In related news, Director William D. Perez purchased 1,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $176.93 per share, with a total value of $176,930.00. Following the completion of the purchase, the director now directly owns 7,239 shares of the company’s stock, valued at $1,280,796.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.69% of the stock is owned by corporate insiders.
Whirlpool Corporation (NYSE WHR) traded up 1.72% during midday trading on Thursday, reaching $189.01. The company’s stock had a trading volume of 245,960 shares. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 18.92 and a beta of 1.76. The firm has a 50-day moving average price of $173.91 and a 200 day moving average price of $180.23. Whirlpool Corporation has a 52-week low of $145.91 and a 52-week high of $202.99.
Whirlpool Corporation (NYSE:WHR) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $3.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.19). The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.35 billion. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 EPS. Equities research analysts predict that Whirlpool Corporation will post $14.64 EPS for the current fiscal year.
Whirlpool Corporation announced that its board has approved a stock buyback plan on Wednesday, July 26th that authorizes the company to buyback $2.35 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 16.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.40 annualized dividend and a dividend yield of 2.37%. Whirlpool Corporation’s dividend payout ratio (DPR) is currently 44.04%.
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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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