WPP (NYSE:WPP) Reaches New 12-Month High – Time to Buy?

WPP plc (NYSE:WPP)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $54.24 and last traded at $54.23, with a volume of 54404 shares traded. The stock had previously closed at $53.06.

Wall Street Analysts Forecast Growth

WPP has been the topic of a number of recent research reports. Citigroup upgraded shares of WPP to a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday.

WPP Stock Up 0.9 %

The business’s 50 day simple moving average is $49.90 and its 200 day simple moving average is $49.14.

WPP Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be paid a $0.954 dividend. The ex-dividend date is Friday, October 11th. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24. This represents a yield of 5.7%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WPP. Mondrian Investment Partners LTD raised its holdings in WPP by 46.5% during the first quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock worth $158,791,000 after purchasing an additional 1,062,708 shares in the last quarter. Bank of Montreal Can raised its holdings in WPP by 72.0% during the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock worth $9,247,000 after purchasing an additional 80,102 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in WPP by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock worth $14,759,000 after purchasing an additional 63,363 shares in the last quarter. Brandes Investment Partners LP raised its holdings in WPP by 7.0% during the second quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after purchasing an additional 42,690 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in WPP during the second quarter worth about $1,860,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

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.