Hotchkis & Wiley Capital Management LLC Boosts 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 grew its holdings in shares of WPP PLC (NYSE:WPP - Free Report) by 27.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,720,858 shares of the business services provider's stock after purchasing an additional 1,436,668 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 3.11% of WPP worth $255,124,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of WPP by 184.3% during the fourth quarter. JPMorgan Chase & Co. now owns 15,729 shares of the business services provider's stock valued at $808,000 after acquiring an additional 10,197 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of WPP by 57.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after purchasing an additional 787 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of WPP by 160.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock valued at $173,000 after purchasing an additional 2,076 shares in the last quarter. First Trust Advisors LP bought a new stake in WPP in the fourth quarter worth about $309,000. Finally, Dimensional Fund Advisors LP raised its position in shares of WPP by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock valued at $24,928,000 after purchasing an additional 35,412 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Stock Performance

WPP stock traded down $0.3090 during trading on Monday, reaching $26.7810. The company had a trading volume of 256,288 shares, compared to its average volume of 500,157. The firm has a 50-day simple moving average of $29.76 and a 200-day simple moving average of $36.30. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 4.49 and a beta of 1.01. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 0.86. WPP PLC has a twelve month low of $24.28 and a twelve month high of $57.37.

WPP Cuts Dividend

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

Analyst Ratings Changes

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

About WPP

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.