Mondrian Investment Partners LTD Has $99.99 Million Stake in Wpp Plc (NYSE:WPP)

Key Points

• Mondrian Investment Partners LTD has reduced its stake in WPP PLC by 8.1%, owning approximately $99.99 million in shares, after selling 231,744 shares in the first quarter.
• Several hedge funds have altered their positions in WPP, with Invesco increasing its holdings by 50.8% and Northern Trust Corp raising its position by 83.5%.
• WPP has recently declared a semi-annual dividend of $0.5033 per share, yielding a substantial 1,060.0%, set to be paid on November 3rd.

Mondrian Investment Partners LTD reduced its stake in Wpp Plc (NYSE:WPP - Free Report) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,634,181 shares of the business services provider's stock after selling 231,744 shares during the period. Mondrian Investment Partners LTD owned about 1.22% of WPP worth $99,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in WPP by 50.8% in the 1st quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider's stock valued at $92,937,000 after buying an additional 824,336 shares during the last quarter. Northern Trust Corp increased its position in WPP by 83.5% during the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock valued at $13,037,000 after purchasing an additional 115,416 shares during the period. Optiver Holding B.V. increased its position in WPP by 104.6% during the 4th quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock valued at $7,272,000 after purchasing an additional 72,342 shares during the period. Jane Street Group LLC acquired a new stake in WPP during the 4th quarter valued at approximately $2,292,000. Finally, Dimensional Fund Advisors LP increased its position in WPP by 7.9% during the 4th 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. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Trading Down 0.6%

NYSE WPP opened at $24.52 on Wednesday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 4.11 and a beta of 1.01. Wpp Plc has a one year low of $24.28 and a one year high of $57.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.88. The business's fifty day moving average is $31.86 and its 200-day moving average is $37.73.

WPP Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WPP. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of WPP from a "hold" rating to a "sell" rating in a research report on Saturday. Barclays reaffirmed an "underweight" rating on shares of WPP in a research report on Friday. Finally, Kepler Capital Markets downgraded shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

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.

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