Acadian Asset Management LLC Takes $110,000 Position in Wolverine World Wide, Inc. (WWW)

Acadian Asset Management LLC bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,823 shares of the textile maker’s stock, valued at approximately $110,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC grew its holdings in shares of Wolverine World Wide by 7.4% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 22,040 shares of the textile maker’s stock valued at $766,000 after purchasing an additional 1,519 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Wolverine World Wide by 3.1% during the 2nd quarter. Aperio Group LLC now owns 51,552 shares of the textile maker’s stock valued at $1,792,000 after purchasing an additional 1,551 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Wolverine World Wide by 12.5% during the 2nd quarter. Amalgamated Bank now owns 15,082 shares of the textile maker’s stock valued at $524,000 after purchasing an additional 1,672 shares during the last quarter. Phocas Financial Corp. grew its holdings in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Phocas Financial Corp. now owns 184,098 shares of the textile maker’s stock valued at $6,401,000 after purchasing an additional 1,841 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. grew its holdings in shares of Wolverine World Wide by 3.9% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 58,089 shares of the textile maker’s stock valued at $2,019,000 after purchasing an additional 2,206 shares during the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.

WWW has been the topic of several research reports. Argus lifted their price target on shares of Wolverine World Wide from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 17th. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, August 10th. Robert W. Baird reaffirmed a “buy” rating and set a $43.00 price target on shares of Wolverine World Wide in a report on Friday, August 10th. DA Davidson set a $44.00 price target on shares of Wolverine World Wide and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $39.42.

In other news, insider Richard Woodworth sold 19,376 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.73, for a total value of $750,432.48. Following the transaction, the insider now owns 123,040 shares in the company, valued at approximately $4,765,339.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy M. Klimek sold 11,628 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $33.19, for a total transaction of $385,933.32. Following the completion of the transaction, the vice president now owns 47,086 shares in the company, valued at approximately $1,562,784.34. The disclosure for this sale can be found here. 5.81% of the stock is owned by company insiders.

NYSE:WWW opened at $33.72 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.75 and a current ratio of 2.65. Wolverine World Wide, Inc. has a one year low of $27.75 and a one year high of $39.77. The company has a market cap of $3.21 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 7th. The textile maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. Wolverine World Wide had a net margin of 4.45% and a return on equity of 20.26%. The business had revenue of $558.60 million for the quarter, compared to the consensus estimate of $584.25 million. During the same period last year, the company earned $0.43 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, analysts expect that Wolverine World Wide, Inc. will post 2.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Wednesday, January 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.95%. Wolverine World Wide’s dividend payout ratio is presently 19.51%.

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About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

Further Reading: What is insider trading?

Want to see what other hedge funds are holding WWW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolverine World Wide, Inc. (NYSE:WWW).

Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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