First Manhattan Co. Holds Position in Whirlpool Co. (WHR)
First Manhattan Co. maintained its stake in Whirlpool Co. (NYSE:WHR) during the second quarter, Holdings Channel reports. The fund owned 810 shares of the company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Whirlpool were worth $155,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in WHR. Telos Capital Management Inc. increased its stake in Whirlpool by 5.3% in the second quarter. Telos Capital Management Inc. now owns 6,781 shares of the company’s stock valued at $1,299,000 after buying an additional 344 shares in the last quarter. Bessemer Group Inc. increased its stake in Whirlpool by 1.0% in the second quarter. Bessemer Group Inc. now owns 410,013 shares of the company’s stock valued at $78,567,000 after buying an additional 3,994 shares in the last quarter. Birmingham Capital Management Co. Inc. AL increased its stake in Whirlpool by 11.5% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 9,377 shares of the company’s stock valued at $1,797,000 after buying an additional 967 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Whirlpool during the second quarter valued at approximately $206,000. Finally, CIBC Asset Management Inc increased its stake in Whirlpool by 0.3% in the second quarter. CIBC Asset Management Inc now owns 7,118 shares of the company’s stock valued at $1,364,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.
Shares of Whirlpool Co. (WHR) opened at 171.24 on Friday. The company has a market cap of $12.50 billion, a P/E ratio of 17.14 and a beta of 1.79. The company’s 50-day moving average price is $186.34 and its 200 day moving average price is $180.96. Whirlpool Co. has a one year low of $145.91 and a one year high of $202.99.
Whirlpool (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 Zacks’ consensus estimate of $3.54 by $0.19. Whirlpool had a net margin of 3.35% and a return on equity of 15.88%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business earned $3.50 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Whirlpool Co. will post $14.63 earnings per share for the current year.
Whirlpool declared that its board has authorized a share buyback plan on Wednesday, July 26th that authorizes the company to buyback $2.35 billion in shares. This buyback authorization authorizes the company to reacquire up to 16.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on WHR. BidaskClub downgraded Whirlpool from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded Whirlpool from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Credit Suisse Group began coverage on Whirlpool in a report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price objective for the company. Finally, Royal Bank Of Canada restated a “top pick” rating and set a $216.00 price objective (down previously from $226.00) on shares of Whirlpool in a report on Tuesday, June 20th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $194.71.
In related news, Director William D. Perez acquired 1,000 shares of Whirlpool stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $176.93 per share, with a total value of $176,930.00. Following the transaction, the director now directly owns 7,239 shares in the company, valued at $1,280,796.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.69% of the stock is owned by company insiders.
Whirlpool 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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