Hotchkis & Wiley Capital Management LLC Increases Stock Position in WPP PLC $WPP

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in WPP Plc by 27.2%, owning 6,720,858 shares valued at approximately $255 million after purchasing an additional 1,436,668 shares.
• WPP recently declared a $0.5033 dividend with an impressive yield of 1,060.0%, scheduled for payment on November 3rd to shareholders of record on October 10th.
• Equities analysts have mixed ratings on WPP, with one "buy," two "holds," and two "sells," resulting in a consensus rating of "Reduce."

Hotchkis & Wiley Capital Management LLC boosted its stake in WPP PLC (NYSE:WPP - Free Report) by 27.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,720,858 shares of the business services provider's stock after acquiring an additional 1,436,668 shares during the period. Hotchkis & Wiley Capital Management LLC owned 3.11% of WPP worth $255,124,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WPP. Stifel Financial Corp increased its holdings in shares of WPP by 0.4% in the fourth quarter. Stifel Financial Corp now owns 56,210 shares of the business services provider's stock valued at $2,889,000 after purchasing an additional 247 shares during the period. Assetmark Inc. raised its position in WPP by 88.3% during the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after buying an additional 467 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of WPP by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock valued at $1,318,000 after acquiring an additional 498 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after acquiring an additional 787 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of WPP by 3,450.0% during the first quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock worth $73,000 after acquiring an additional 1,863 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WPP shares. Zacks Research downgraded shares of WPP from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Wall Street Zen cut WPP from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Barclays reaffirmed an "underweight" rating on shares of WPP in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce".

WPP Trading Up 0.1%

WPP traded up $0.02 during midday trading on Thursday, hitting $26.55. The company's stock had a trading volume of 182,283 shares, compared to its average volume of 369,169. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The firm has a market cap of $5.73 billion, a P/E ratio of 4.45 and a beta of 1.01. WPP PLC has a 52-week low of $24.28 and a 52-week high of $57.37. The firm has a 50-day moving average price of $29.41 and a two-hundred day moving average price of $36.16.

WPP Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.5033 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 1,060.0%. WPP's dividend payout ratio (DPR) is presently 8.21%.

WPP Company Profile

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.