Steel Grove Capital Advisors LLC Takes $1.58 Million Position in Whirlpool Co. (NYSE:WHR)

Steel Grove Capital Advisors LLC purchased a new stake in shares of Whirlpool Co. (NYSE:WHR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,442 shares of the company’s stock, valued at approximately $1,578,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in Whirlpool by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 41,855 shares of the company’s stock worth $5,007,000 after purchasing an additional 6,984 shares in the last quarter. Empowered Funds LLC acquired a new position in Whirlpool in the first quarter worth approximately $1,054,000. Retirement Systems of Alabama grew its position in Whirlpool by 471.3% in the first quarter. Retirement Systems of Alabama now owns 69,067 shares of the company’s stock worth $8,262,000 after buying an additional 56,978 shares during the last quarter. HB Wealth Management LLC acquired a new position in Whirlpool in the first quarter worth approximately $219,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Whirlpool in the first quarter worth approximately $10,369,000. Institutional investors own 90.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WHR. Bank of America began coverage on shares of Whirlpool in a research report on Tuesday, July 30th. They set an “underperform” rating and a $88.00 price objective on the stock. Royal Bank of Canada lowered their price target on shares of Whirlpool from $79.00 to $76.00 and set an “underperform” rating on the stock in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $103.75.

Whirlpool Trading Down 0.9 %

Whirlpool stock opened at $102.41 on Monday. The company’s fifty day simple moving average is $99.48 and its 200-day simple moving average is $100.00. The company has a quick ratio of 0.58, a current ratio of 0.96 and a debt-to-equity ratio of 1.88. Whirlpool Co. has a 12 month low of $84.18 and a 12 month high of $135.45. The stock has a market cap of $5.60 billion, a P/E ratio of 14.11 and a beta of 1.44.

Whirlpool (NYSE:WHR) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.39. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the business earned $4.21 EPS. Whirlpool’s quarterly revenue was down 16.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Whirlpool Co. will post 11.31 EPS for the current fiscal year.

Whirlpool Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Friday, August 30th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend was Friday, August 30th. Whirlpool’s payout ratio is presently 96.42%.

Insider Activity at Whirlpool

In related news, EVP Juan Carlos Puente sold 3,266 shares of Whirlpool stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $100.00, for a total value of $326,600.00. Following the completion of the sale, the executive vice president now owns 19,070 shares of the company’s stock, valued at approximately $1,907,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.05% of the stock is owned by company insiders.

Whirlpool Company Profile

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.