CCM Investment Group LLC Makes New $628,000 Investment 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 acquired a new stake in Whirlpool Corporation (NYSE:WHR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,020 shares of the company's stock, valued at approximately $628,000.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Whirlpool by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,235,977 shares of the company's stock valued at $201,529,000 after purchasing an additional 117,964 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Whirlpool by 13.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,934 shares of the company's stock valued at $4,022,000 after purchasing an additional 5,202 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Whirlpool in the 4th quarter valued at $34,719,000. MADDEN SECURITIES Corp lifted its stake in shares of Whirlpool by 44.5% in the 1st quarter. MADDEN SECURITIES Corp now owns 11,665 shares of the company's stock valued at $1,051,000 after purchasing an additional 3,595 shares during the period. Finally, Tang Capital Management LLC acquired a new position in shares of Whirlpool in the 4th quarter valued at $974,000. 90.78% of the stock is owned by hedge funds and other institutional investors.

Whirlpool Trading Down 0.5%

Shares of WHR traded down $0.45 during mid-day trading on Friday, reaching $88.56. The stock had a trading volume of 332,098 shares, compared to its average volume of 1,343,267. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.85 and a quick ratio of 0.46. Whirlpool Corporation has a 52-week low of $73.72 and a 52-week high of $135.49. The business's fifty day moving average is $94.28 and its 200 day moving average is $91.07. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -33.43 and a beta of 1.17.

Whirlpool (NYSE:WHR - Get Free Report) last announced its quarterly earnings data 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). Whirlpool had a negative net margin of 0.95% and a positive return on equity of 20.81%. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.88 billion. During the same period in the prior year, the company posted $2.39 EPS. The company's revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Whirlpool Corporation will post 9.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WHR shares. Loop Capital reiterated a "hold" rating and issued a $88.00 target price on shares of Whirlpool in a research note on Monday, August 4th. Royal Bank Of Canada decreased their target price on shares of Whirlpool from $65.00 to $63.00 and set an "underperform" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. decreased their target price on shares of Whirlpool from $109.00 to $89.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Bank of America restated an "underperform" rating and set a $70.00 price objective (down from $100.00) on shares of Whirlpool in a research report on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Whirlpool from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $98.83.

About Whirlpool

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.