Los Angeles Capital Management & Equity Research Inc. Cuts Position in Whirlpool Corp. (WHR)
Los Angeles Capital Management & Equity Research Inc. cut its position in shares of Whirlpool Corp. (NYSE:WHR) by 14.6% during the second quarter, Holdings Channel reports. The fund owned 5,315 shares of the company’s stock after selling 910 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Whirlpool Corp. were worth $886,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. BlackRock Group LTD increased its position in shares of Whirlpool Corp. by 6.2% in the first quarter. BlackRock Group LTD now owns 859,795 shares of the company’s stock valued at $155,054,000 after buying an additional 50,488 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Whirlpool Corp. by 68.9% in the second quarter. Neuberger Berman Group LLC now owns 804,176 shares of the company’s stock valued at $134,008,000 after buying an additional 327,929 shares during the last quarter. Capital Growth Management LP boosted its stake in shares of Whirlpool Corp. by 28.7% in the first quarter. Capital Growth Management LP now owns 785,000 shares of the company’s stock valued at $141,567,000 after buying an additional 175,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Whirlpool Corp. during the fourth quarter valued at approximately $106,975,000. Finally, Geode Capital Management LLC boosted its stake in shares of Whirlpool Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 629,731 shares of the company’s stock valued at $113,334,000 after buying an additional 6,113 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.
Shares of Whirlpool Corp. (NYSE:WHR) traded down 1.42% during mid-day trading on Friday, reaching $162.75. 1,342,984 shares of the company’s stock traded hands. Whirlpool Corp. has a 52 week low of $123.60 and a 52 week high of $194.10. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 14.42 and a beta of 1.71. The company’s 50 day moving average is $183.33 and its 200-day moving average is $176.73.
Whirlpool Corp. (NYSE:WHR) last issued its quarterly earnings data on Friday, July 22nd. The company reported $3.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.37 by $0.13. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Whirlpool Corp. had a net margin of 4.29% and a return on equity of 18.68%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. Equities analysts expect that Whirlpool Corp. will post $14.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $4.00 annualized dividend and a yield of 2.46%. Whirlpool Corp.’s dividend payout ratio is 35.40%.
Several equities research analysts recently commented on WHR shares. Gabelli cut Whirlpool Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 12th. Bank of America Corp. reissued a “buy” rating and set a $230.00 target price on shares of Whirlpool Corp. in a report on Wednesday, June 8th. MKM Partners boosted their target price on Whirlpool Corp. from $204.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, July 25th. Raymond James Financial Inc. raised Whirlpool Corp. from a “market perform” rating to a “strong-buy” rating and set a $185.00 target price on the stock in a report on Monday, July 25th. Finally, Zacks Investment Research raised Whirlpool Corp. from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Wednesday, June 29th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $198.50.
In other news, insider Marc R. Bitzer sold 1,012 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $190.00, for a total transaction of $192,280.00. Following the sale, the insider now directly owns 1,012 shares of the company’s stock, valued at $192,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeff M. Fettig sold 91,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $189.42, for a total transaction of $17,237,220.00. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.
About Whirlpool Corp.
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia.
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