Pictet Asset Management Ltd. Lowers Position in Pope Resources (POPE)
Pictet Asset Management Ltd. lowered its stake in shares of Pope Resources (NASDAQ:POPE) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 361,975 shares of the construction company’s stock after selling 705 shares during the period. Pictet Asset Management Ltd. owned 0.08% of Pope Resources worth $26,660,000 as of its most recent SEC filing.
Pope Resources (NASDAQ:POPE) opened at 71.20 on Friday. The company’s 50-day moving average price is $73.64 and its 200 day moving average price is $71.58. The company has a market cap of $308.08 million, a PE ratio of 30.97 and a beta of 0.27. Pope Resources has a 52 week low of $63.30 and a 52 week high of $79.50.
Pope Resources (NASDAQ:POPE) last issued its quarterly earnings data on Friday, August 4th. The construction company reported $0.03 earnings per share (EPS) for the quarter. Pope Resources had a return on equity of 7.36% and a net margin of 11.20%. The firm had revenue of $15.89 million during the quarter.
Pope Resources declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 30th that allows the company to repurchase $1.20 million in shares. This repurchase authorization allows the construction company to buy up to 0.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Pope Resources Company Profile
Pope Resources, A Delaware Limited Partnership is engaged primarily in managing timber resources on its own properties, as well as those owned by others. The Company operates through three business segments: Fee Timber, Timberland Management and Real Estate. The Fee Timber operations consisted of growing and harvesting timber from approximately 212,000 acres that the Company owned or co-owned with its timber fund investors as tree farms, as of December 31, 2016.
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