Cullen Frost Bankers Inc. Trims Position in Whirlpool Corporation (WHR)
Cullen Frost Bankers Inc. reduced its position in Whirlpool Corporation (NYSE:WHR) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,888 shares of the company’s stock after selling 468 shares during the quarter. Cullen Frost Bankers Inc. owned approximately 0.11% of Whirlpool Corporation worth $14,550,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of WHR. Harris Associates L P lifted its position in Whirlpool Corporation by 12.5% in the second quarter. Harris Associates L P now owns 2,180,839 shares of the company’s stock worth $417,892,000 after purchasing an additional 241,659 shares during the period. Ameriprise Financial Inc. raised its stake in Whirlpool Corporation by 136.1% during the second quarter. Ameriprise Financial Inc. now owns 405,351 shares of the company’s stock worth $77,673,000 after acquiring an additional 233,661 shares in the last quarter. PGGM Investments raised its stake in Whirlpool Corporation by 283.7% during the second quarter. PGGM Investments now owns 187,319 shares of the company’s stock worth $35,894,000 after acquiring an additional 138,502 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Whirlpool Corporation by 83.4% during the second quarter. Parametric Portfolio Associates LLC now owns 294,996 shares of the company’s stock worth $56,527,000 after acquiring an additional 134,159 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in Whirlpool Corporation by 7.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,837,517 shares of the company’s stock worth $338,912,000 after acquiring an additional 122,189 shares in the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. Credit Suisse Group set a $187.00 target price on Whirlpool Corporation and gave the company a “neutral” rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded Whirlpool Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub cut Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Royal Bank Of Canada cut Whirlpool Corporation from a “top pick” rating to a “sector perform” rating and decreased their price target for the company from $209.00 to $184.00 in a report on Tuesday, October 24th. Finally, Bank of America Corporation cut Whirlpool Corporation from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Whirlpool Corporation has an average rating of “Hold” and a consensus target price of $184.67.
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Shares of Whirlpool Corporation (WHR) traded down $0.34 on Tuesday, reaching $163.12. The company’s stock had a trading volume of 154,779 shares, compared to its average volume of 1,220,000. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.90. Whirlpool Corporation has a 12-month low of $154.14 and a 12-month high of $202.99. The company has a market capitalization of $11,720.00, a PE ratio of 11.70, a P/E/G ratio of 1.59 and a beta of 1.87.
Whirlpool Corporation (NYSE:WHR) last issued its earnings results on Monday, October 23rd. The company reported $3.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.90 by ($0.07). Whirlpool Corporation had a return on equity of 18.45% and a net margin of 3.76%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the business posted $3.66 EPS. Whirlpool Corporation’s quarterly revenue was up 3.2% on a year-over-year basis. equities analysts expect that Whirlpool Corporation will post 13.7 earnings per share for the current fiscal year.
Whirlpool Corporation declared that its board has authorized a stock buyback plan on Wednesday, July 26th that allows the company to buyback $2.35 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 16.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, November 16th. Whirlpool Corporation’s dividend payout ratio (DPR) is presently 41.51%.
Whirlpool Corporation 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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