Strs Ohio Has $568,000 Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Strs Ohio raised its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,200 shares of the company’s stock after purchasing an additional 2,800 shares during the period. Strs Ohio owned 0.11% of Resources Connection worth $568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in shares of Resources Connection by 483.7% in the first quarter. Covestor Ltd now owns 1,652 shares of the company’s stock worth $28,000 after acquiring an additional 1,369 shares during the last quarter. Quarry LP grew its stake in shares of Resources Connection by 70.2% in the first quarter. Quarry LP now owns 2,042 shares of the company’s stock worth $35,000 after acquiring an additional 842 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Resources Connection by 41.7% in the first quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock worth $46,000 after acquiring an additional 783 shares during the last quarter. Tucker Asset Management LLC bought a new position in Resources Connection in the first quarter worth $68,000. Finally, Nisa Investment Advisors LLC lifted its position in Resources Connection by 23.0% in the first quarter. Nisa Investment Advisors LLC now owns 5,660 shares of the company’s stock worth $97,000 after purchasing an additional 1,060 shares during the period. Institutional investors and hedge funds own 83.96% of the company’s stock.

Insider Activity

In other news, COO Timothy L. Brackney sold 10,055 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $16.20, for a total value of $162,891.00. Following the completion of the sale, the chief operating officer now directly owns 148,514 shares in the company, valued at $2,405,926.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 7.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on RGP shares. TheStreet cut Resources Connection from a “b” rating to a “c+” rating in a research report on Wednesday, October 4th. StockNews.com started coverage on Resources Connection in a research report on Thursday, October 5th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reduced their target price on Resources Connection from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, October 5th. Finally, Robert W. Baird reduced their target price on Resources Connection from $18.00 to $15.00 in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.50.

Resources Connection Stock Performance

Shares of NASDAQ RGP opened at $13.29 on Friday. The stock has a market cap of $447.87 million, a PE ratio of 11.46 and a beta of 0.71. The business has a fifty day moving average of $14.71 and a two-hundred day moving average of $15.39. Resources Connection, Inc. has a 52-week low of $13.00 and a 52-week high of $19.83.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $170.17 million during the quarter, compared to analysts’ expectations of $170.14 million. Resources Connection had a return on equity of 11.35% and a net margin of 5.30%. The business’s revenue was down 16.6% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. Analysts predict that Resources Connection, Inc. will post 0.74 earnings per share for the current year.

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.21%. Resources Connection’s dividend payout ratio (DPR) is presently 48.28%.

About Resources Connection

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.