Granite Investment Advisors LLC Sells 2,572 Shares of Whirlpool Corporation (NYSE:WHR)

Granite Investment Advisors LLC decreased its position in shares of Whirlpool Corporation (NYSE:WHR) by 8.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,375 shares of the company’s stock after selling 2,572 shares during the period. Granite Investment Advisors LLC’s holdings in Whirlpool Corporation were worth $5,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC boosted its position in shares of Whirlpool Corporation by 33.1% in the first quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after buying an additional 246 shares during the period. IBM Retirement Fund acquired a new position in shares of Whirlpool Corporation during the second quarter worth $205,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Whirlpool Corporation during the second quarter worth $206,000. Wetherby Asset Management Inc. acquired a new position in shares of Whirlpool Corporation during the second quarter worth $206,000. Finally, OLD National Bancorp IN acquired a new position in shares of Whirlpool Corporation during the second quarter worth $210,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Whirlpool Corporation (NYSE:WHR) opened at 171.74 on Friday. The stock’s 50 day moving average is $187.02 and its 200-day moving average is $181.07. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 17.19 and a beta of 1.79. Whirlpool Corporation has a 1-year low of $145.91 and a 1-year high of $202.99.

Whirlpool Corporation (NYSE:WHR) last issued its earnings results on Wednesday, July 26th. The company reported $3.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the firm posted $3.50 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Whirlpool Corporation will post $14.63 EPS for the current year.

Whirlpool Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, July 26th that allows the company to buyback $2.35 billion in shares. This buyback authorization allows the company to repurchase up to 16.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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A number of brokerages have weighed in on WHR. BidaskClub cut shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $216.00 price target (down from $226.00) on shares of Whirlpool Corporation in a research report on Tuesday, June 20th. Zacks Investment Research cut shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Credit Suisse Group began coverage on shares of Whirlpool Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $194.71.

In other Whirlpool Corporation news, Director William D. Perez bought 1,000 shares of Whirlpool Corporation stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $176.93 per share, for a total transaction of $176,930.00. Following the purchase, the director now owns 7,239 shares of the company’s stock, valued at approximately $1,280,796.27. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.69% of the company’s stock.

About Whirlpool Corporation

Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.

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Institutional Ownership by Quarter for Whirlpool Corporation (NYSE:WHR)

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