First Trust Advisors LP acquired a new stake in shares of Welbilt, Inc (NYSE:WBT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 351,206 shares of the industrial products company’s stock, valued at approximately $7,333,000. First Trust Advisors LP owned approximately 0.25% of Welbilt at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WBT. Fort L.P. bought a new position in Welbilt during the 2nd quarter valued at $126,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Welbilt during the 2nd quarter valued at $200,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Welbilt during the 2nd quarter valued at $210,000. Colony Group LLC purchased a new stake in shares of Welbilt during the 2nd quarter valued at $229,000. Finally, Quantum Capital Management purchased a new stake in shares of Welbilt during the 2nd quarter valued at $256,000. Institutional investors and hedge funds own 92.24% of the company’s stock.

In other news, VP Richard James Sheffer acquired 4,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was bought at an average price of $13.71 per share, with a total value of $60,324.00. Following the acquisition, the vice president now owns 4,400 shares in the company, valued at approximately $60,324. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Haresh Shah acquired 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average cost of $14.04 per share, with a total value of $63,180.00. Following the acquisition, the chief financial officer now owns 4,500 shares in the company, valued at approximately $63,180. The disclosure for this purchase can be found here. In the last three months, insiders purchased 38,862 shares of company stock valued at $522,897. 0.37% of the stock is currently owned by insiders.

WBT traded down $0.17 during trading hours on Friday, hitting $12.98. The stock had a trading volume of 2,550,964 shares, compared to its average volume of 1,324,197. Welbilt, Inc has a 1 year low of $12.60 and a 1 year high of $23.85. The firm has a market cap of $1.84 billion, a P/E ratio of 16.86 and a beta of 1.08. The company has a debt-to-equity ratio of 8.23, a quick ratio of 0.74 and a current ratio of 1.36.

Welbilt (NYSE:WBT) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). Welbilt had a return on equity of 88.66% and a net margin of 7.56%. The firm had revenue of $412.90 million during the quarter, compared to analysts’ expectations of $421.89 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Welbilt, Inc will post 0.78 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Barclays set a $25.00 target price on Welbilt and gave the company a “buy” rating in a research report on Monday, August 20th. Citigroup decreased their target price on Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, August 15th. KeyCorp decreased their target price on Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, November 6th. Wedbush decreased their target price on Welbilt from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Finally, Robert W. Baird set a $19.00 target price on Welbilt and gave the company a “buy” rating in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $21.75.

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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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