Byrne Asset Management LLC Purchases 7,952 Shares of Whirlpool Corporation $WHR

Key Points

• Byrne Asset Management LLC significantly increased its stake in Whirlpool Corporation by purchasing 7,952 shares, bringing its total holdings to 7,996 shares valued at approximately $811,000.
• Whirlpool Corporation recently reported a quarterly earnings per share (EPS) of $1.34, missing analyst expectations of $1.54, and revenues declined by 5.4% year-over-year.
• The company announced a quarterly dividend of $0.90, leading to an annualized dividend of $3.60, and currently holds a payout ratio of -135.85%.

Byrne Asset Management LLC grew its position in shares of Whirlpool Corporation (NYSE:WHR - Free Report) by 18,072.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,996 shares of the company's stock after buying an additional 7,952 shares during the quarter. Byrne Asset Management LLC's holdings in Whirlpool were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WHR. Nuveen LLC bought a new position in Whirlpool in the first quarter worth approximately $82,461,000. Causeway Capital Management LLC acquired a new position in Whirlpool during the first quarter worth $32,788,000. Dimensional Fund Advisors LP increased its position in Whirlpool by 25.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,723,612 shares of the company's stock worth $155,343,000 after purchasing an additional 350,397 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Whirlpool in the first quarter worth approximately $30,621,000. Finally, Newport Trust Company LLC increased its holdings in shares of Whirlpool by 11.4% in the 1st quarter. Newport Trust Company LLC now owns 1,806,101 shares of the company's stock valued at $162,784,000 after acquiring an additional 184,132 shares during the period. 90.78% of the stock is owned by institutional investors.

Whirlpool Stock Down 2.7%

Shares of WHR traded down $2.30 during trading hours on Friday, hitting $82.60. The company had a trading volume of 1,620,344 shares, compared to its average volume of 1,097,379. The company's fifty day moving average price is $90.96 and its two-hundred day moving average price is $88.68. Whirlpool Corporation has a one year low of $73.72 and a one year high of $135.49. The company has a market capitalization of $4.62 billion, a PE ratio of -31.17 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.46 and a debt-to-equity ratio of 2.39.

Whirlpool (NYSE:WHR - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.54 by ($0.20). The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.88 billion. Whirlpool had a positive return on equity of 20.81% and a negative net margin of 0.95%.The firm's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 EPS. Whirlpool has set its FY 2025 guidance at 6.000-8.000 EPS. As a group, equities analysts forecast that Whirlpool Corporation will post 9.52 earnings per share for the current fiscal year.

Whirlpool Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, August 29th. Whirlpool's dividend payout ratio is presently -135.85%.

Analyst Ratings Changes

Several analysts have issued reports on WHR shares. Loop Capital reaffirmed a "hold" rating and issued a $88.00 price objective on shares of Whirlpool in a research report on Monday, August 4th. Royal Bank Of Canada decreased their target price on Whirlpool from $65.00 to $63.00 and set an "underperform" rating on the stock in a report on Wednesday, July 30th. Wall Street Zen cut Whirlpool from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Longbow Research upgraded Whirlpool from a "neutral" rating to a "buy" rating and set a $145.00 price objective on the stock in a research report on Monday, June 30th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $70.00 price objective (down from $100.00) on shares of Whirlpool in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $98.83.

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.