Readystate Asset Management LP Decreases Stock Position in Whirlpool Co. (NYSE:WHR)

Readystate Asset Management LP lowered its position in shares of Whirlpool Co. (NYSE:WHR) by 10.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,665 shares of the company’s stock after selling 2,150 shares during the quarter. Readystate Asset Management LP’s holdings in Whirlpool were worth $1,890,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA lifted its holdings in Whirlpool by 1.8% in the 2nd quarter. Primecap Management Co. CA now owns 4,858,250 shares of the company’s stock worth $496,513,000 after buying an additional 84,574 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Whirlpool by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,019,569 shares of the company’s stock worth $216,094,000 after purchasing an additional 258,871 shares in the last quarter. Newport Trust Company LLC lifted its position in shares of Whirlpool by 23.8% in the 2nd quarter. Newport Trust Company LLC now owns 1,402,941 shares of the company’s stock worth $143,381,000 after purchasing an additional 269,976 shares during the period. HighTower Advisors LLC increased its position 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 period. Finally, Dimensional Fund Advisors LP raised its stake in Whirlpool by 46.8% in the second quarter. Dimensional Fund Advisors LP now owns 981,472 shares of the company’s stock worth $100,304,000 after buying an additional 312,729 shares in the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Whirlpool

In other Whirlpool news, CFO James W. Peters sold 6,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $104.48, for a total value of $626,880.00. Following the transaction, the chief financial officer now owns 41,570 shares of the company’s stock, valued at approximately $4,343,233.60. This 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 can be accessed through the SEC website. 2.05% of the stock is currently owned by insiders.

Whirlpool Price Performance

Shares of NYSE:WHR opened at $109.55 on Thursday. The business has a fifty day moving average price of $107.53 and a 200-day moving average price of $100.77. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.94 and a quick ratio of 0.55. The company has a market capitalization of $6.04 billion, a PE ratio of 10.80 and a beta of 1.46. Whirlpool Co. has a 1-year low of $84.18 and a 1-year high of $125.68.

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

Whirlpool Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Friday, November 15th. Whirlpool’s payout ratio is currently 69.03%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America upped their target price on Whirlpool from $101.00 to $103.00 and gave the stock an “underperform” rating in a report on Friday, October 25th. Royal Bank of Canada decreased their price objective on Whirlpool from $76.00 to $74.00 and set an “underperform” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Whirlpool from $103.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Whirlpool has an average rating of “Hold” and a consensus price target of $106.50.

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.