Estabrook Capital Management Sells 11,622 Shares of FRP Holdings, Inc. (NASDAQ:FRPH)

Estabrook Capital Management reduced its stake in shares of FRP Holdings, Inc. (NASDAQ:FRPH) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,308 shares of the financial services provider’s stock after selling 11,622 shares during the period. FRP accounts for 1.2% of Estabrook Capital Management’s portfolio, making the stock its 25th biggest holding. Estabrook Capital Management owned 1.42% of FRP worth $7,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Hyman Charles D increased its stake in FRP by 100.0% in the 2nd quarter. Hyman Charles D now owns 1,937,268 shares of the financial services provider’s stock worth $55,251,000 after buying an additional 968,822 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FRP by 101.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after acquiring an additional 553,265 shares during the period. Vanguard Group Inc. grew its position in shares of FRP by 2.1% during the first quarter. Vanguard Group Inc. now owns 325,563 shares of the financial services provider’s stock worth $19,990,000 after purchasing an additional 6,741 shares in the last quarter. LB Partners LLC raised its stake in FRP by 100.0% during the 2nd quarter. LB Partners LLC now owns 125,802 shares of the financial services provider’s stock valued at $3,588,000 after purchasing an additional 62,901 shares during the period. Finally, Salem Investment Counselors Inc. lifted its holdings in FRP by 98.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock worth $3,158,000 after purchasing an additional 55,067 shares in the last quarter. 45.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of FRP from a “hold” rating to a “buy” rating in a research report on Sunday, August 25th.

FRP Stock Down 2.6 %

Shares of FRPH stock opened at $29.44 on Friday. The company’s fifty day simple moving average is $29.34 and its two-hundred day simple moving average is $29.63. FRP Holdings, Inc. has a 52 week low of $26.59 and a 52 week high of $32.50. The stock has a market cap of $559.95 million, a P/E ratio of 94.97 and a beta of 0.47.

FRP (NASDAQ:FRPH) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.11 EPS for the quarter. The company had revenue of $10.48 million for the quarter. FRP had a return on equity of 1.67% and a net margin of 18.12%.

Insider Activity

In related news, President David H. Devilliers, Jr. sold 4,134 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.00, for a total transaction of $124,020.00. Following the sale, the president now owns 62,755 shares of the company’s stock, valued at $1,882,650. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO David H. Devilliers III sold 1,725 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $29.30, for a total value of $50,542.50. Following the completion of the sale, the chief operating officer now directly owns 44,879 shares of the company’s stock, valued at approximately $1,314,954.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President David H. Devilliers, Jr. sold 4,134 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.00, for a total value of $124,020.00. Following the transaction, the president now directly owns 62,755 shares in the company, valued at approximately $1,882,650. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,589 shares of company stock worth $342,079. 22.80% of the stock is currently owned by insiders.

FRP Company Profile

FRP Holdings, Inc engages in the real estate business in the United States. It operates through four segments: Industrial and Commercial, Mining Royalty Lands, Development, and Multifamily. The Industrial and Commercial segment owns, leases, and manages commercial properties. The Mining Royalty Lands segment leases and manages mining royalties owned by the company primarily in Florida, Georgia, and Virginia.