State of Wisconsin Investment Board decreased its position in Welbilt, Inc (NYSE:WBT) by 0.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 429,148 shares of the industrial products company’s stock after selling 2,900 shares during the period. State of Wisconsin Investment Board’s holdings in Welbilt were worth $9,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dudley & Shanley Inc. grew its position in shares of Welbilt by 0.3% in the 2nd quarter. Dudley & Shanley Inc. now owns 1,256,375 shares of the industrial products company’s stock worth $28,030,000 after acquiring an additional 4,350 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Welbilt by 6,330.8% in the 1st quarter. Quantbot Technologies LP now owns 10,032 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 9,876 shares in the last quarter. Dupont Capital Management Corp grew its position in shares of Welbilt by 33.3% in the 1st quarter. Dupont Capital Management Corp now owns 54,061 shares of the industrial products company’s stock worth $1,051,000 after acquiring an additional 13,498 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of Welbilt by 13.5% in the 1st quarter. Eagle Asset Management Inc. now owns 1,562,663 shares of the industrial products company’s stock worth $30,393,000 after acquiring an additional 186,225 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Welbilt by 8.0% in the 1st quarter. Wells Fargo & Company MN now owns 989,162 shares of the industrial products company’s stock worth $19,239,000 after acquiring an additional 73,432 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Shares of NYSE WBT opened at $21.86 on Tuesday. The company has a market capitalization of $2.85 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.30 and a beta of 1.18. Welbilt, Inc has a 12-month low of $18.34 and a 12-month high of $23.85. The company has a debt-to-equity ratio of 9.67, a quick ratio of 0.97 and a current ratio of 1.61.

Welbilt (NYSE:WBT) last announced its quarterly earnings results on Thursday, August 9th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $420.70 million for the quarter, compared to the consensus estimate of $401.45 million. Welbilt had a return on equity of 123.68% and a net margin of 8.14%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. research analysts forecast that Welbilt, Inc will post 0.89 earnings per share for the current year.

Several brokerages have recently commented on WBT. Zacks Investment Research upgraded Welbilt from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Sunday, July 15th. CL King began coverage on Welbilt in a research report on Thursday, June 28th. They issued a “neutral” rating for the company. Barclays set a $25.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Monday. Citigroup lifted their target price on Welbilt from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, June 8th. Finally, Buckingham Research began coverage on Welbilt in a research report on Thursday, May 24th. They issued a “buy” rating and a $24.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $24.14.

In related news, SVP Joel H. Horn sold 1,918 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $21.05, for a total value of $40,373.90. Following the sale, the senior vice president now owns 2,375 shares of the company’s stock, valued at approximately $49,993.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Welbilt Profile

Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.

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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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