BlackRock Inc. lowered its position in shares of Whirlpool Co. (NYSE:WHR) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,643,641 shares of the company’s stock after selling 42,965 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Whirlpool worth $1,012,406,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Lyrical Asset Management LP raised its position in shares of Whirlpool by 2.1% during the first quarter. Lyrical Asset Management LP now owns 1,608,320 shares of the company’s stock worth $354,393,000 after acquiring an additional 32,441 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Whirlpool by 2.1% during the first quarter. Nuveen Asset Management LLC now owns 1,492,287 shares of the company’s stock worth $328,826,000 after acquiring an additional 30,160 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Whirlpool by 3.4% during the first quarter. Geode Capital Management LLC now owns 1,105,434 shares of the company’s stock worth $242,976,000 after acquiring an additional 36,029 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Whirlpool by 3.0% during the first quarter. UBS Asset Management Americas Inc. now owns 328,133 shares of the company’s stock worth $72,270,000 after acquiring an additional 9,559 shares during the last quarter. Finally, Markel Corp raised its position in shares of Whirlpool by 1.0% during the second quarter. Markel Corp now owns 276,849 shares of the company’s stock worth $60,358,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.
In related news, Director Gary T. Dicamillo sold 1,000 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $223.26, for a total transaction of $223,260.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher S. Conley sold 455 shares of the stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $217.05, for a total value of $98,757.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.
Whirlpool (NYSE:WHR) last posted its quarterly earnings data on Tuesday, July 20th. The company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $6.00 by $0.64. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Whirlpool had a return on equity of 36.26% and a net margin of 8.76%. Whirlpool’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 earnings per share. Sell-side analysts forecast that Whirlpool Co. will post 26.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 27th were given a dividend of $1.40 per share. The ex-dividend date was Thursday, August 26th. This represents a $5.60 annualized dividend and a dividend yield of 2.66%. Whirlpool’s dividend payout ratio is currently 30.19%.
A number of equities research analysts have recently weighed in on WHR shares. Royal Bank of Canada boosted their target price on Whirlpool from $210.00 to $222.00 and gave the stock a “sector perform” rating in a research report on Friday, July 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.17 price objective on shares of Whirlpool in a report on Tuesday, July 27th. Finally, Zacks Investment Research upgraded Whirlpool from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Tuesday, July 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $214.86.
Whirlpool Corp. engages in manufacturing and marketing of home appliances. Its products include home laundry appliances, refrigerators and freezers, cooking appliances, home dishwashers, and room air-conditioning equipment, mixers, and portable household appliances. The company’s brands include Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, and Indesit.
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