Cullen Frost Bankers Inc. decreased its position in Whirlpool Corp. (NYSE:WHR) by 20.3% during the second quarter, Holdings Channel reports. The fund owned 88,485 shares of the company’s stock after selling 22,490 shares during the period. Cullen Frost Bankers Inc.’s holdings in Whirlpool Corp. were worth $14,745,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Whirlpool Corp. during the fourth quarter worth $106,975,000. Fairpointe Capital LLC purchased a new stake in Whirlpool Corp. during the first quarter worth $88,525,000. TIAA CREF Investment Management LLC increased its stake in Whirlpool Corp. by 116.7% in the first quarter. TIAA CREF Investment Management LLC now owns 513,477 shares of the company’s stock worth $92,600,000 after buying an additional 276,502 shares during the period. Capital Growth Management LP increased its stake in Whirlpool Corp. by 28.7% in the first quarter. Capital Growth Management LP now owns 785,000 shares of the company’s stock worth $141,567,000 after buying an additional 175,000 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in Whirlpool Corp. by 288.9% in the first quarter. Pictet Asset Management Ltd. now owns 195,827 shares of the company’s stock worth $30,416,000 after buying an additional 145,474 shares during the period. 89.59% of the stock is owned by institutional investors.
Shares of Whirlpool Corp. (NYSE:WHR) traded up 1.02% on Thursday, reaching $164.35. The company’s stock had a trading volume of 661,233 shares. The company’s 50 day moving average is $178.48 and its 200-day moving average is $176.80. Whirlpool Corp. has a 1-year low of $123.60 and a 1-year high of $194.10. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 14.56 and a beta of 1.71.
Whirlpool Corp. (NYSE:WHR) last posted its earnings results on Friday, July 22nd. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.37 by $0.13. Whirlpool Corp. had a return on equity of 18.68% and a net margin of 4.29%. The firm earned $5.21 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts expect that Whirlpool Corp. will post $14.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 26th were paid a $1.00 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 2.43%. Whirlpool Corp.’s payout ratio is 35.40%.
A number of equities research analysts have recently weighed in on WHR shares. Gabelli downgraded Whirlpool Corp. from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. Raymond James Financial Inc. downgraded Whirlpool Corp. from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 25th. Zacks Investment Research raised Whirlpool Corp. from a “hold” rating to a “buy” rating and set a $173.00 price target for the company in a research note on Wednesday, June 29th. Bank of America Corp. reaffirmed a “buy” rating and set a $230.00 price target on shares of Whirlpool Corp. in a research note on Wednesday, June 8th. Finally, MKM Partners raised their price target on Whirlpool Corp. from $204.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, July 25th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $198.50.
In other Whirlpool Corp. news, insider Joao Carlos Brega sold 14,166 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $193.43, for a total value of $2,740,129.38. Following the completion of the transaction, the insider now directly owns 29,043 shares of the company’s stock, valued at $5,617,787.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David T. Szczupak sold 10,307 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $181.33, for a total value of $1,868,968.31. Following the completion of the transaction, the insider now directly owns 4,807 shares of the company’s stock, valued at $871,653.31. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.
About Whirlpool Corp.
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia.
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