Palouse Capital Management Inc. Sells 371 Shares of Whirlpool Co. (NYSE:WHR)

Palouse Capital Management Inc. reduced its holdings in Whirlpool Co. (NYSE:WHR) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,293 shares of the company’s stock after selling 371 shares during the quarter. Palouse Capital Management Inc.’s holdings in Whirlpool were worth $673,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in Whirlpool by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,855 shares of the company’s stock valued at $5,007,000 after purchasing an additional 6,984 shares during the last quarter. Empowered Funds LLC purchased a new stake in Whirlpool during the first quarter worth about $1,054,000. Retirement Systems of Alabama raised 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 acquiring an additional 56,978 shares during the period. HB Wealth Management LLC purchased a new position in Whirlpool in the first quarter valued at about $219,000. Finally, Evergreen Capital Management LLC increased its stake in shares of Whirlpool by 41.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 43,261 shares of the company’s stock worth $4,421,000 after purchasing an additional 12,697 shares during the last quarter. Institutional investors and hedge funds own 90.78% of the company’s stock.

Insider Buying and Selling at Whirlpool

In other Whirlpool news, EVP Juan Carlos Puente sold 3,266 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $100.00, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.05% of the stock is owned by corporate insiders.

Whirlpool Stock Down 1.8 %

Shares of WHR traded down $1.94 during mid-day trading on Monday, reaching $105.23. The company had a trading volume of 429,591 shares, compared to its average volume of 1,189,993. Whirlpool Co. has a 52 week low of $84.18 and a 52 week high of $130.27. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.58 and a current ratio of 0.96. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.08 and a beta of 1.44. The firm has a 50-day moving average price of $101.08 and a 200 day moving average price of $99.04.

Whirlpool (NYSE:WHR) last issued its earnings results on Wednesday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, hitting 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 analysts’ expectations of $3.96 billion. During the same period in the previous year, the company earned $4.21 earnings per share. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Whirlpool Co. will post 11.24 EPS for the current year.

Whirlpool Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Friday, November 15th will be given a dividend of $1.75 per share. The ex-dividend date is Friday, November 15th. This represents a $7.00 annualized dividend and a yield of 6.65%. Whirlpool’s dividend payout ratio (DPR) is 72.39%.

Wall Street Analysts Forecast Growth

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

Whirlpool 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.