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Richard Pzena Continues to Sell Down Whirlpool Corp. Positions

September 10, 2009 | About:
(GuruFocus, September 10, 2009) Investment Guru Richard Pzena is reducing his stake in appliance manufacturer Whirlpool Corp. (WHR) for his hedge funds. According to GuruFocus Real Time Data, Pzena sold 6% of his position at the price around $64.21 per share on August 31, 2009. After the transaction, he still held g 3.56 million shares.

Whirlpool Corp. manufactures and markets a full line of major appliances and related products primarily for home use. Whirlpool Corp. has a market cap of $4.94 billion; its shares were traded at around $66.72 with a P/E ratio of 13.7 and P/S ratio of 0.3. The dividend yield of Whirlpool Corp. stocks is 2.6%. Whirlpool Corp. had an annual average earning growth of 5.7% over the past 10 years. GuruFocus rated Whirlpool Corp. the business predictability rank of 2.5-star.

Pzena initiated a small position of 94,500 shares in 2Q01, and increased over the years to a peak holding of 8.15 million shares by 4Q07. He has been selling shares since then. In 2Q09 he was seen reducing his position from 4.03 million shares to 3.79 million shares. The August 31 sale is the continuation of his sale that began in 1Q08.

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About the author:

guruek
Mike Havrilla is a pharmacist, freelance writer, and index developer for ETF Innovators, which creates new global equity indexes for licensing and commercialization as exchange-traded funds (ETFs). He has been investing since August 1997 and freelance writing for investors since April 2007 with a focus on the healthcare sector and ETFs. Mike holds Doctor of Pharmacy and Bachelor of Science (Biology) degrees from the University of Pittsburgh and is a licensed pharmacist. Visit Mike Havrilla's website www.etfinnovators.com.

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