CCM Investment Group LLC Purchases New Stake in Whirlpool Corporation (NYSE:WHR)

Key Points

• CCM Investment Group LLC acquired a new 7,020 shares of Whirlpool Corporation valued at approximately $628,000 during the first quarter, according to its SEC filing.
• Whirlpool's stock faced mixed ratings from analysts, with some cutting their price targets; Bank of America lowered its target from $100.00 to $70.00, while Longbow Research upgraded it to a "buy" rating with a $145.00 target.
• The company reported earnings of $1.34 per share, missing analysts' estimates by $0.20, with a 5.4% revenue decline year-over-year.

CCM Investment Group LLC purchased a new stake in Whirlpool Corporation (NYSE:WHR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,020 shares of the company's stock, valued at approximately $628,000.

A number of other institutional investors have also recently modified their holdings of WHR. Wells Fargo & Company MN boosted its stake in shares of Whirlpool by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 193,029 shares of the company's stock valued at $22,098,000 after buying an additional 10,424 shares in the last quarter. FMR LLC raised its holdings in Whirlpool by 57.3% during the fourth quarter. FMR LLC now owns 1,808,744 shares of the company's stock worth $207,065,000 after purchasing an additional 659,014 shares during the last quarter. Cerity Partners LLC raised its holdings in Whirlpool by 0.9% during the fourth quarter. Cerity Partners LLC now owns 36,749 shares of the company's stock worth $4,112,000 after purchasing an additional 340 shares during the last quarter. Invesco Ltd. raised its holdings in Whirlpool by 1.9% during the fourth quarter. Invesco Ltd. now owns 214,704 shares of the company's stock worth $24,579,000 after purchasing an additional 3,930 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Whirlpool by 367.0% during the fourth quarter. Renaissance Technologies LLC now owns 72,657 shares of the company's stock worth $8,318,000 after purchasing an additional 57,100 shares during the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Whirlpool from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Bank of America reaffirmed an "underperform" rating and set a $70.00 price objective (down from $100.00) on shares of Whirlpool in a report on Tuesday, July 29th. Loop Capital reaffirmed a "hold" rating and set a $88.00 price objective on shares of Whirlpool in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their price objective on Whirlpool from $109.00 to $89.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Finally, Longbow Research raised Whirlpool from a "neutral" rating to a "buy" rating and set a $145.00 price objective for the company in a report on Monday, June 30th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.83.

Whirlpool Price Performance

NYSE:WHR opened at $83.62 on Monday. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of -31.55 and a beta of 1.17. The company has a current ratio of 0.85, a quick ratio of 0.46 and a debt-to-equity ratio of 2.39. The company's 50-day moving average is $93.81 and its two-hundred day moving average is $91.77. Whirlpool Corporation has a 12-month low of $73.72 and a 12-month high of $135.49.

Whirlpool (NYSE:WHR - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.54 by ($0.20). The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.88 billion. Whirlpool had a negative net margin of 0.95% and a positive return on equity of 20.81%. Whirlpool's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $2.39 earnings per share. Research analysts expect that Whirlpool Corporation will post 9.52 EPS for the current year.

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.

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