Eagle Asset Management Inc. Buys 7,568 Shares of Welbilt, Inc (NYSE:WBT)

Eagle Asset Management Inc. lifted its stake in shares of Welbilt, Inc (NYSE:WBT) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,577 shares of the industrial products company’s stock after purchasing an additional 7,568 shares during the quarter. Eagle Asset Management Inc. owned about 0.36% of Welbilt worth $8,642,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in shares of Welbilt by 9.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 9,524 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 800 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Welbilt by 6.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,375 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 813 shares during the last quarter. US Bancorp DE raised its holdings in shares of Welbilt by 5.4% in the 2nd quarter. US Bancorp DE now owns 17,659 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 903 shares during the last quarter. Brinker Capital Inc. raised its holdings in shares of Welbilt by 6.4% in the 3rd quarter. Brinker Capital Inc. now owns 15,124 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 911 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Welbilt by 50.0% in the 3rd quarter. Strs Ohio now owns 3,600 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,200 shares during the last quarter.

WBT opened at $18.44 on Tuesday. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.70 and a quick ratio of 1.07. Welbilt, Inc has a fifty-two week low of $10.66 and a fifty-two week high of $19.81. The firm has a market capitalization of $2.56 billion, a PE ratio of 23.64 and a beta of 1.70. The company’s 50-day moving average is $17.65 and its 200 day moving average is $16.54.

Welbilt (NYSE:WBT) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The firm had revenue of $410.50 million during the quarter, compared to analysts’ expectations of $423.03 million. Welbilt had a net margin of 3.82% and a return on equity of 48.23%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. As a group, analysts expect that Welbilt, Inc will post 0.7 EPS for the current year.

A number of equities research analysts recently weighed in on WBT shares. Zacks Investment Research lowered shares of Welbilt from a “hold” rating to a “sell” rating in a report on Saturday. Barclays restated a “buy” rating and issued a $20.00 target price on shares of Welbilt in a report on Wednesday, October 16th. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, BMO Capital Markets started coverage on shares of Welbilt in a report on Friday, October 18th. They issued a “market perform” rating and a $19.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.40.

In other news, CEO William Johnson acquired 13,496 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $14.82 per share, for a total transaction of $200,010.72. Following the purchase, the chief executive officer now owns 78,502 shares in the company, valued at approximately $1,163,399.64. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.37% 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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Institutional Ownership by Quarter for Welbilt (NYSE:WBT)

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