Retirement Systems of Alabama Decreases Stake in Whirlpool Corporation (WHR)
Retirement Systems of Alabama reduced its stake in Whirlpool Corporation (NYSE:WHR) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,865 shares of the company’s stock after selling 143 shares during the period. Retirement Systems of Alabama’s holdings in Whirlpool Corporation were worth $6,872,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Whirlpool Corporation by 117.5% in the second quarter. IFP Advisors Inc now owns 2,738 shares of the company’s stock valued at $525,000 after buying an additional 1,479 shares during the last quarter. Telemus Capital LLC boosted its position in shares of Whirlpool Corporation by 13.4% in the second quarter. Telemus Capital LLC now owns 5,434 shares of the company’s stock valued at $1,041,000 after buying an additional 642 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Whirlpool Corporation by 47.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 21,266 shares of the company’s stock valued at $4,075,000 after buying an additional 6,800 shares during the last quarter. Sei Investments Co. boosted its position in shares of Whirlpool Corporation by 42.3% in the second quarter. Sei Investments Co. now owns 10,800 shares of the company’s stock valued at $2,070,000 after buying an additional 3,213 shares during the last quarter. Finally, Telos Capital Management Inc. boosted its position in shares of Whirlpool Corporation 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 during the last quarter. 94.26% of the stock is currently owned by institutional investors and hedge funds.
Whirlpool Corporation (NYSE:WHR) opened at 173.19 on Wednesday. The stock has a market capitalization of $12.64 billion, a PE ratio of 17.33 and a beta of 1.79. Whirlpool Corporation has a 52-week low of $145.91 and a 52-week high of $202.99. The stock’s 50 day moving average price is $185.41 and its 200-day moving average price is $180.85.
Whirlpool Corporation (NYSE:WHR) last issued its earnings results on Wednesday, July 26th. The company reported $3.35 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 company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the company earned $3.50 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Whirlpool Corporation will post $14.63 EPS for the current fiscal year.
Whirlpool Corporation announced that its Board of Directors has approved a share repurchase program on Wednesday, July 26th that authorizes the company to repurchase $2.35 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 16.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.54%. Whirlpool Corporation’s payout ratio is 44.04%.
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Several brokerages have issued reports on WHR. BidaskClub cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Credit Suisse Group began coverage on Whirlpool Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 target price on the stock. Finally, Royal Bank Of Canada reissued a “top pick” rating and issued a $216.00 target price (down from $226.00) on shares of Whirlpool Corporation in a research report on Tuesday, June 20th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $194.71.
In related news, Director William D. Perez bought 1,000 shares of the stock in a transaction dated Monday, July 31st. The shares were purchased 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.69% of the stock is owned by corporate insiders.
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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