Standard Life Aberdeen plc increased its position in Welbilt, Inc (NYSE:WBT) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,258,392 shares of the industrial products company’s stock after purchasing an additional 210,750 shares during the period. Standard Life Aberdeen plc owned approximately 1.60% of Welbilt worth $35,253,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in WBT. Champlain Investment Partners LLC raised its stake in shares of Welbilt by 10.9% in the fourth quarter. Champlain Investment Partners LLC now owns 7,907,190 shares of the industrial products company’s stock worth $123,431,000 after purchasing an additional 775,715 shares during the last quarter. Scopia Capital Management LP raised its position in Welbilt by 13.8% in the 3rd quarter. Scopia Capital Management LP now owns 6,559,589 shares of the industrial products company’s stock worth $110,595,000 after buying an additional 794,700 shares during the last quarter. Investec Asset Management LTD raised its position in Welbilt by 145.5% in the 4th quarter. Investec Asset Management LTD now owns 5,127,825 shares of the industrial products company’s stock worth $80,045,000 after buying an additional 3,038,737 shares during the last quarter. Earnest Partners LLC lifted its stake in Welbilt by 5.2% during the 4th quarter. Earnest Partners LLC now owns 3,503,457 shares of the industrial products company’s stock valued at $54,689,000 after acquiring an additional 172,012 shares during the period. Finally, State Street Corp lifted its stake in Welbilt by 1.3% during the 4th quarter. State Street Corp now owns 2,736,011 shares of the industrial products company’s stock valued at $42,709,000 after acquiring an additional 35,738 shares during the period. 99.86% of the stock is currently owned by institutional investors.
WBT stock traded up $0.17 during trading on Thursday, reaching $4.75. The stock had a trading volume of 3,743,453 shares, compared to its average volume of 1,984,520. The firm has a market cap of $662.13 million, a PE ratio of 12.18 and a beta of 1.54. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 5.66. The stock’s 50 day moving average is $10.94 and its two-hundred day moving average is $15.21. Welbilt, Inc has a 52 week low of $3.17 and a 52 week high of $19.81.
A number of analysts have recently commented on WBT shares. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th. KeyCorp lowered their price objective on shares of Welbilt from $20.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday. Buckingham Research dropped their target price on shares of Welbilt from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Zacks Investment Research upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Citigroup cut their target price on shares of Welbilt from $17.00 to $6.50 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.50.
In related news, EVP Jennifer Gudenkauf bought 5,252 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $45,009.64. Following the completion of the transaction, the executive vice president now owns 11,125 shares of the company’s stock, valued at $95,341.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Johnson bought 10,091 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $8.48 per share, for a total transaction of $85,571.68. Insiders own 0.49% of the company’s stock.
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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