WPP (NYSE:WPP) Sees Strong Trading Volume After Dividend Announcement

WPP plc (NYSE:WPP) shares saw unusually-strong trading volume on Friday following a dividend announcement from the company. Approximately 867,710 shares changed hands during trading, an increase of 327% from the previous session’s volume of 203,331 shares.The stock last traded at $40.31 and had previously closed at $41.06.

The newly announced dividend which will be paid on Friday, July 4th. Shareholders of record on Friday, June 6th will be given a dividend of $0.9728 per share. This is a positive change from WPP’s previous semi-annual dividend of $0.95. The ex-dividend date of this dividend is Friday, June 6th. This represents a dividend yield of 6.2%. WPP’s payout ratio is 32.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Finally, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

WPP Trading Down 1.2 %

The firm has a 50-day moving average of $47.69 and a 200 day moving average of $49.98. The company has a market cap of $8.75 billion, a P/E ratio of 6.79, a price-to-earnings-growth ratio of 7.06 and a beta of 1.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its position in shares of WPP by 55.8% during the fourth quarter. Quantinno Capital Management LP now owns 54,443 shares of the business services provider’s stock valued at $2,798,000 after acquiring an additional 19,493 shares during the last quarter. Mork Capital Management LLC bought a new position in shares of WPP in the fourth quarter worth $987,000. Graham Capital Management L.P. bought a new position in shares of WPP in the fourth quarter worth $872,000. Jane Street Group LLC bought a new stake in WPP during the fourth quarter valued at $2,292,000. Finally, Northern Trust Corp boosted its stake in WPP by 83.5% during the fourth quarter. Northern Trust Corp now owns 253,640 shares of the business services provider’s stock valued at $13,037,000 after buying an additional 115,416 shares during the period. Institutional investors own 4.34% of the company’s stock.

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.