Winch Advisory Services LLC Has $190,000 Stock Position in Welbilt, Inc (NYSE:WBT)

Winch Advisory Services LLC reduced its position in shares of Welbilt, Inc (NYSE:WBT) by 26.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,372 shares of the industrial products company’s stock after selling 4,000 shares during the quarter. Winch Advisory Services LLC’s holdings in Welbilt were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Strs Ohio bought a new stake in Welbilt during the 2nd quarter worth about $40,000. Quadrant Capital Group LLC increased its stake in shares of Welbilt by 2,938.8% in the 1st quarter. Quadrant Capital Group LLC now owns 3,920 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 3,791 shares during the last quarter. Huntington National Bank increased its stake in shares of Welbilt by 39.8% in the 2nd quarter. Huntington National Bank now owns 4,571 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 1,301 shares during the last quarter. CWM Advisors LLC bought a new stake in shares of Welbilt in the 2nd quarter valued at about $176,000. Finally, Parametrica Management Ltd bought a new stake in shares of Welbilt in the 1st quarter valued at about $177,000.

Shares of WBT stock traded down $0.52 on Friday, reaching $15.00. The company had a trading volume of 882,187 shares, compared to its average volume of 1,223,836. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 6.81. The stock has a market cap of $2.19 billion, a PE ratio of 19.23 and a beta of 1.66. The company has a 50-day moving average of $16.16 and a 200-day moving average of $16.09. Welbilt, Inc has a 12 month low of $10.66 and a 12 month high of $22.41.

Welbilt (NYSE:WBT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. The business had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $427.07 million. During the same period in the prior year, the business earned $0.20 EPS. Welbilt’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Welbilt, Inc will post 0.73 earnings per share for the current year.

A number of analysts have recently commented on the company. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $19.00 in a research note on Wednesday, July 10th. Finally, Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.67.

About Welbilt

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.

Read More: What is Cost of Goods Sold (COGS)?

Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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