State of Michigan Retirement System Has $1.35 Million Stock Holdings in Whirlpool Co. (NYSE:WHR)

State of Michigan Retirement System cut its stake in shares of Whirlpool Co. (NYSE:WHR) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,200 shares of the company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Whirlpool were worth $1,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of Whirlpool by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 41,855 shares of the company’s stock worth $5,007,000 after purchasing an additional 6,984 shares during the period. Empowered Funds LLC acquired a new position in Whirlpool in the 1st quarter worth about $1,054,000. Retirement Systems of Alabama increased its position in Whirlpool by 471.3% in the 1st quarter. Retirement Systems of Alabama now owns 69,067 shares of the company’s stock worth $8,262,000 after purchasing an additional 56,978 shares during the last quarter. HB Wealth Management LLC acquired a new position in Whirlpool in the 1st quarter worth about $219,000. Finally, CWM LLC increased its position in Whirlpool by 112.0% in the 4th quarter. CWM LLC now owns 1,221 shares of the company’s stock worth $149,000 after purchasing an additional 645 shares during the last quarter. 90.78% of the stock is owned by institutional investors and hedge funds.

Whirlpool Price Performance

Shares of NYSE:WHR opened at $102.45 on Friday. The business has a 50 day moving average price of $99.94 and a 200 day moving average price of $101.16. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 14.11 and a beta of 1.44. The company has a quick ratio of 0.58, a current ratio of 0.96 and a debt-to-equity ratio of 1.88. Whirlpool Co. has a twelve month low of $84.18 and a twelve month high of $142.52.

Whirlpool (NYSE:WHR) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.39 EPS for the quarter, meeting the consensus estimate of $2.39. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Whirlpool had a return on equity of 27.67% and a net margin of 2.89%. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.21 EPS. Research analysts predict that Whirlpool Co. will post 11.31 earnings per share for the current year.

Whirlpool Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Friday, August 30th will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $7.00 annualized dividend and a dividend yield of 6.83%. Whirlpool’s dividend payout ratio (DPR) is currently 96.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on WHR. Bank of America began coverage on Whirlpool in a research report on Tuesday, July 30th. They issued an “underperform” rating and a $88.00 target price on the stock. Royal Bank of Canada dropped their target price on Whirlpool from $79.00 to $76.00 and set an “underperform” rating on the stock in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Whirlpool has a consensus rating of “Hold” and a consensus price target of $103.75.

Whirlpool 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.