Gamco Investors INC. ET AL Cuts Stake in Welbilt, Inc (NYSE:WBT)

Gamco Investors INC. ET AL lowered its position in shares of Welbilt, Inc (NYSE:WBT) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,400 shares of the industrial products company’s stock after selling 9,500 shares during the period. Gamco Investors INC. ET AL owned about 0.07% of Welbilt worth $1,659,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Welbilt by 4.2% during the second quarter. Vanguard Group Inc. now owns 11,927,004 shares of the industrial products company’s stock valued at $199,180,000 after buying an additional 484,737 shares during the period. BlackRock Inc. boosted its position in Welbilt by 56.8% during the second quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock valued at $145,409,000 after purchasing an additional 3,152,913 shares in the last quarter. Impax Asset Management Group plc boosted its position in Welbilt by 5.8% during the second quarter. Impax Asset Management Group plc now owns 8,529,334 shares of the industrial products company’s stock valued at $142,440,000 after purchasing an additional 464,398 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Welbilt during the second quarter valued at about $135,031,000. Finally, Scopia Capital Management LP boosted its position in Welbilt by 178.5% during the second quarter. Scopia Capital Management LP now owns 5,764,889 shares of the industrial products company’s stock valued at $96,274,000 after purchasing an additional 3,694,892 shares in the last quarter.

Shares of Welbilt stock traded down $0.12 on Friday, reaching $18.16. 1,032,393 shares of the stock were exchanged, compared to its average volume of 1,291,754. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 6.81. Welbilt, Inc has a twelve month low of $10.66 and a twelve month high of $19.81. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 23.28 and a beta of 1.70. The business has a 50 day moving average price of $17.60 and a two-hundred day moving average price of $16.53.

Welbilt (NYSE:WBT) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). Welbilt had a return on equity of 48.23% and a net margin of 3.82%. The firm had revenue of $410.50 million for the quarter, compared to analyst estimates of $423.03 million. During the same period last year, the firm earned $0.25 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts forecast that Welbilt, Inc will post 0.7 EPS for the current year.

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In other news, CEO William Johnson bought 13,496 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $14.82 per share, with a total value of $200,010.72. Following the completion of the acquisition, the chief executive officer now directly owns 78,502 shares of the company’s stock, valued at approximately $1,163,399.64. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.

WBT has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Welbilt in a report on Friday, October 18th. They issued a “market perform” rating and a $19.00 price target for the company. Zacks Investment Research downgraded Welbilt from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, Barclays reissued a “buy” rating and issued a $20.00 price target on shares of Welbilt in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Welbilt currently has an average rating of “Hold” and an average target price of $18.40.

Welbilt 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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