Fmr LLC Increases Stake in Whirlpool Corporation (WHR)
Fmr LLC lifted its holdings in Whirlpool Corporation (NYSE:WHR) by 4.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 909,933 shares of the company’s stock after purchasing an additional 36,357 shares during the period. Fmr LLC owned about 1.25% of Whirlpool Corporation worth $174,362,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Dupont Capital Management Corp purchased a new stake in shares of Whirlpool Corporation in the 2nd quarter worth approximately $100,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Whirlpool Corporation by 26.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 644 shares of the company’s stock worth $123,000 after purchasing an additional 135 shares during the period. Global X Management Co. LLC lifted its position in shares of 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 purchasing an additional 246 shares during the period. IBM Retirement Fund purchased a new stake in shares of Whirlpool Corporation in the 2nd quarter worth approximately $205,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Whirlpool Corporation in the 2nd quarter worth approximately $206,000. 91.47% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on WHR. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $216.00 price target (down previously from $226.00) on shares of Whirlpool Corporation in a research report on Tuesday, June 20th. BidaskClub cut shares of Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine raised shares of Whirlpool Corporation from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Credit Suisse Group began coverage on shares of Whirlpool Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 price target for the company. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.17.
Whirlpool Corporation (NYSE WHR) opened at 185.82 on Thursday. Whirlpool Corporation has a 1-year low of $145.91 and a 1-year high of $202.99. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 18.60 and a beta of 1.76. The company’s 50 day moving average is $173.91 and its 200 day moving average is $180.23.
Whirlpool Corporation (NYSE:WHR) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.19). Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Whirlpool Corporation will post $14.64 EPS for the current year.
Whirlpool Corporation declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 26th that permits the company to repurchase $2.35 billion in shares. This repurchase authorization permits the company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 2.37%. Whirlpool Corporation’s dividend payout ratio is currently 44.04%.
In other news, Director William D. Perez purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $176.93 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.69% of the stock is owned by insiders.
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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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