Whirlpool Corporation $WHR Shares Acquired by M&T Bank Corp

Key Points

• M&T Bank Corp boosted its stake in Whirlpool by 973.9% in Q4, buying 27,172 shares to hold 29,962 shares worth about $2.16M, while institutional investors now own roughly 90.78% of WHR.
• Multiple analysts have cut targets or downgraded the stock (JPMorgan to $59, Mizuho $55, Citigroup $60, Zacks to "strong sell"), leaving a MarketBeat consensus rating of "Reduce".
• Whirlpool missed quarterly EPS ($1.10 vs. $1.54 est.), has a P/E of 9.78 and market cap of $3.12B, and offers a high 6.5% dividend yield ($0.90 quarterly) with a payout ratio around 63.7%.

M&T Bank Corp lifted its holdings in shares of Whirlpool Corporation (NYSE:WHR - Free Report) by 973.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,962 shares of the company's stock after buying an additional 27,172 shares during the period. M&T Bank Corp owned approximately 0.05% of Whirlpool worth $2,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHR. Orion Porfolio Solutions LLC increased its position in shares of Whirlpool by 2,795.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 234,564 shares of the company's stock valued at $23,789,000 after purchasing an additional 226,462 shares during the period. RWWM Inc. increased its position in shares of Whirlpool by 68.4% during the 3rd quarter. RWWM Inc. now owns 555,380 shares of the company's stock valued at $43,653,000 after purchasing an additional 225,513 shares during the period. Causeway Capital Management LLC increased its position in shares of Whirlpool by 42.3% during the 3rd quarter. Causeway Capital Management LLC now owns 617,039 shares of the company's stock valued at $48,499,000 after purchasing an additional 183,496 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Whirlpool during the 2nd quarter valued at $11,489,000. Finally, Newport Trust Company LLC increased its position in shares of Whirlpool by 5.5% during the 3rd quarter. Newport Trust Company LLC now owns 2,169,688 shares of the company's stock valued at $170,537,000 after purchasing an additional 112,579 shares during the period. Institutional investors own 90.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Whirlpool from $76.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, March 13th. Mizuho assumed coverage on Whirlpool in a research report on Monday, April 20th. They set a "neutral" rating and a $55.00 price target on the stock. Stifel Nicolaus lowered their price target on Whirlpool from $75.00 to $68.00 and set a "hold" rating on the stock in a research report on Monday, March 2nd. Citigroup assumed coverage on Whirlpool in a research report on Wednesday, April 22nd. They set a "neutral" rating and a $60.00 price target on the stock. Finally, Zacks Research cut Whirlpool from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Whirlpool currently has a consensus rating of "Reduce" and a consensus price target of $74.33.

Whirlpool Price Performance

NYSE WHR opened at $55.27 on Wednesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 9.78, a P/E/G ratio of 10.77 and a beta of 1.30. Whirlpool Corporation has a 1 year low of $50.41 and a 1 year high of $111.96. The business's fifty day moving average is $59.51 and its two-hundred day moving average is $71.11. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.40 and a current ratio of 0.76.

Whirlpool (NYSE:WHR - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.44). The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.27 billion. Whirlpool had a net margin of 2.04% and a return on equity of 12.98%. Whirlpool's quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.57 EPS. On average, research analysts forecast that Whirlpool Corporation will post 5.18 earnings per share for the current fiscal year.

Whirlpool Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, February 27th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $3.60 annualized dividend and a dividend yield of 6.5%. Whirlpool's dividend payout ratio is currently 63.72%.

Whirlpool Profile

Whirlpool Corporation is a leading global manufacturer and marketer of home appliances, with a product portfolio that spans major categories such as laundry, refrigeration, cooking, dishwashing and small electrics. Headquartered in Benton Harbor, Michigan, the company designs, produces and distributes its appliances through a network of wholly owned manufacturing facilities, joint ventures and third-party partners. Whirlpool serves both retail and professional markets, offering products under its flagship Whirlpool brand as well as several well-known names including Maytag, KitchenAid, JennAir, Amana, Brastemp and Consul.

In its laundry segment, Whirlpool provides top- and front-load washing machines, dryers and combination units designed to balance energy efficiency, capacity and convenience.

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