Quarry LP Cuts Position in Whirlpool Co. (NYSE:WHR)

Quarry LP lessened its holdings in Whirlpool Co. (NYSE:WHR) by 23.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 422 shares of the company’s stock after selling 127 shares during the quarter. Quarry LP’s holdings in Whirlpool were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IHT Wealth Management LLC purchased a new stake in Whirlpool in the third quarter worth about $224,000. Harmony Asset Management LLC grew its holdings in shares of Whirlpool by 85.0% during the third quarter. Harmony Asset Management LLC now owns 6,059 shares of the company’s stock valued at $648,000 after buying an additional 2,784 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Whirlpool by 34.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 69,700 shares of the company’s stock valued at $7,458,000 after buying an additional 17,900 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Whirlpool by 1.9% during the third quarter. HighTower Advisors LLC now owns 1,033,263 shares of the company’s stock valued at $110,567,000 after buying an additional 18,936 shares during the last quarter. Finally, Atom Investors LP purchased a new stake in shares of Whirlpool during the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.

Whirlpool Trading Down 0.4 %

Shares of WHR stock opened at $124.01 on Wednesday. Whirlpool Co. has a 12-month low of $84.18 and a 12-month high of $125.68. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 1.94. The firm’s 50 day moving average is $108.37 and its 200 day moving average is $101.67. The stock has a market capitalization of $6.84 billion, a P/E ratio of 12.23 and a beta of 1.46.

Whirlpool (NYSE:WHR) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.44. Whirlpool had a net margin of 3.19% and a return on equity of 21.41%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the firm earned $5.45 earnings per share. The company’s quarterly revenue was down 18.9% on a year-over-year basis. Research analysts expect that Whirlpool Co. will post 12.27 earnings per share for the current year.

Whirlpool Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Friday, November 15th will be given a $1.75 dividend. The ex-dividend date is Friday, November 15th. This represents a $7.00 annualized dividend and a yield of 5.64%. Whirlpool’s payout ratio is presently 69.03%.

Insiders Place Their Bets

In other Whirlpool news, CFO James W. Peters sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $104.48, for a total value of $626,880.00. Following the transaction, the chief financial officer now directly owns 41,570 shares in the company, valued at approximately $4,343,233.60. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WHR. Royal Bank of Canada cut their price target on shares of Whirlpool from $76.00 to $74.00 and set an “underperform” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Whirlpool from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Bank of America increased their price target on shares of Whirlpool from $101.00 to $103.00 and gave the company an “underperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $106.50.

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.