Trexquant Investment LP Takes Position in Whirlpool Corporation (WHR)
Trexquant Investment LP acquired a new position in shares of Whirlpool Corporation (NYSE:WHR) during the second quarter, Holdings Channel reports. The fund acquired 2,900 shares of the company’s stock, valued at approximately $556,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted its stake in Whirlpool Corporation by 33.1% in the first quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after buying an additional 246 shares during the last quarter. IBM Retirement Fund purchased a new stake in Whirlpool Corporation during the second quarter worth about $205,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Whirlpool Corporation during the second quarter worth about $206,000. OLD National Bancorp IN purchased a new stake in Whirlpool Corporation during the second quarter worth about $210,000. Finally, Scout Investments Inc. purchased a new stake in Whirlpool Corporation during the first quarter worth about $206,000. 94.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Whirlpool Corporation (WHR) opened at 171.24 on Friday. The firm has a 50 day moving average price of $186.34 and a 200-day moving average price of $180.96. The firm has a market cap of $12.50 billion, a PE ratio of 17.14 and a beta of 1.79. Whirlpool Corporation has a 12 month low of $145.91 and a 12 month high of $202.99.
Whirlpool Corporation (NYSE:WHR) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a net margin of 3.61% and a return on equity of 18.17%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company posted $3.50 EPS. Whirlpool Corporation’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts predict that Whirlpool Corporation will post $14.63 EPS for the current fiscal year.
Whirlpool Corporation declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 26th that authorizes the company to buyback $2.35 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 16.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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A number of research firms recently issued reports on WHR. BidaskClub cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $216.00 price target (down previously from $226.00) on shares of Whirlpool Corporation in a research report on Tuesday, June 20th. Zacks Investment Research cut Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Credit Suisse Group started coverage on Whirlpool Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 price target for the company. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently 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 the company’s 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 acquisition, the director now owns 7,239 shares of the company’s stock, valued at $1,280,796.27. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.69% of the stock is currently owned by corporate insiders.
Whirlpool Corporation 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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