Oak Ridge Investments LLC raised its stake in Welbilt, Inc (NYSE:WBT) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 539,080 shares of the industrial products company’s stock after acquiring an additional 26,760 shares during the quarter. Oak Ridge Investments LLC’s holdings in Welbilt were worth $8,830,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in WBT. JPMorgan Chase & Co. grew its stake in shares of Welbilt by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,323 shares of the industrial products company’s stock valued at $4,704,000 after acquiring an additional 39,538 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Welbilt by 9.2% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,499,294 shares of the industrial products company’s stock valued at $31,305,000 after acquiring an additional 126,492 shares during the period. Virtu Financial LLC bought a new position in shares of Welbilt during the 4th quarter valued at approximately $190,000. Nisa Investment Advisors LLC grew its stake in shares of Welbilt by 72.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 4,400 shares during the period. Finally, Cooper Haims Advisors LLC bought a new position in shares of Welbilt during the 4th quarter valued at approximately $418,000.
NYSE WBT traded up $0.08 during trading hours on Friday, reaching $16.01. The company’s stock had a trading volume of 517,975 shares, compared to its average volume of 1,243,226. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 8.18. Welbilt, Inc has a 1 year low of $10.66 and a 1 year high of $23.85. The stock has a market cap of $2.26 billion, a PE ratio of 20.53 and a beta of 1.78.
Welbilt (NYSE:WBT) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). Welbilt had a return on equity of 57.14% and a net margin of 3.75%. The business had revenue of $375.30 million during the quarter, compared to analysts’ expectations of $373.44 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that Welbilt, Inc will post 0.76 EPS for the current fiscal year.
In related news, EVP Richard N. Caron sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $16.12, for a total value of $209,560.00. Following the transaction, the executive vice president now directly owns 53,525 shares of the company’s stock, valued at approximately $862,823. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on WBT. Zacks Investment Research upgraded Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. ValuEngine upgraded Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Barclays reiterated a “buy” rating and set a $19.00 price objective on shares of Welbilt in a research note on Wednesday, February 20th. Finally, Robert W. Baird set a $18.00 price objective on Welbilt and gave the company a “buy” rating in a research note on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.14.
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Welbilt Company Profile
Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.
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