FRP Holdings Inc (FRPH) Holdings Trimmed by Estabrook Capital Management

Estabrook Capital Management reduced its stake in shares of FRP Holdings Inc (NASDAQ:FRPH) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,274 shares of the financial services provider’s stock after selling 5,757 shares during the quarter. FRP accounts for approximately 1.9% of Estabrook Capital Management’s portfolio, making the stock its 21st largest holding. Estabrook Capital Management owned 2.06% of FRP worth $12,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its position in FRP by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 33,453 shares of the financial services provider’s stock worth $2,167,000 after buying an additional 903 shares during the period. Russell Investments Group Ltd. grew its position in FRP by 2.4% during the third quarter. Russell Investments Group Ltd. now owns 43,868 shares of the financial services provider’s stock worth $2,724,000 after buying an additional 1,039 shares during the period. FMR LLC grew its position in FRP by 3.1% during the third quarter. FMR LLC now owns 50,296 shares of the financial services provider’s stock worth $3,124,000 after buying an additional 1,529 shares during the period. Royce & Associates LP grew its position in FRP by 0.3% during the second quarter. Royce & Associates LP now owns 715,048 shares of the financial services provider’s stock worth $46,299,000 after buying an additional 2,340 shares during the period. Finally, Bank of New York Mellon Corp grew its position in FRP by 6.7% during the second quarter. Bank of New York Mellon Corp now owns 38,854 shares of the financial services provider’s stock worth $2,516,000 after buying an additional 2,439 shares during the period. Institutional investors own 49.38% of the company’s stock.

Shares of NASDAQ FRPH opened at $49.50 on Monday. FRP Holdings Inc has a 12-month low of $41.90 and a 12-month high of $67.70. The stock has a market capitalization of $498.79 million, a price-to-earnings ratio of 133.78 and a beta of 0.64. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.23.

FRP (NASDAQ:FRPH) last announced its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter. FRP had a net margin of 376.58% and a return on equity of 1.39%. The company had revenue of $5.74 million for the quarter.

Several brokerages have issued reports on FRPH. BidaskClub downgraded shares of FRP from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. ValuEngine downgraded shares of FRP from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.

In related news, insider John D. Klopfenstein sold 1,415 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $64.50, for a total transaction of $91,267.50. Following the transaction, the insider now owns 1,415 shares of the company’s stock, valued at $91,267.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President David H. Devilliers, Jr. sold 10,120 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $63.47, for a total transaction of $642,316.40. Following the transaction, the president now directly owns 1,350 shares in the company, valued at approximately $85,684.50. The disclosure for this sale can be found here. 17.31% of the stock is owned by corporate insiders.

WARNING: “FRP Holdings Inc (FRPH) Holdings Trimmed by Estabrook Capital Management” was first posted by WKRB News and is owned by of WKRB News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.wkrb13.com/2018/11/26/frp-holdings-inc-frph-holdings-trimmed-by-estabrook-capital-management.html.

About FRP

FRP Holdings, Inc, through its subsidiaries, engages in various real estate businesses in the United States. The company operates through four segments: Asset Management, Mining Royalty Lands, Land Development and Construction, and RiverFront on the Anacostia. The Asset Management segment owns, leases, and manages warehouses and office buildings primarily located in the Baltimore, northern Virginia, and Washington, DC market areas.

Further Reading: Understanding Market Liquidity

Institutional Ownership by Quarter for FRP (NASDAQ:FRPH)

Receive News & Ratings for FRP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FRP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply