Strs Ohio Reduces Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Strs Ohio lowered its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 14.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,800 shares of the business services provider’s stock after selling 4,900 shares during the quarter. Strs Ohio owned about 0.08% of Kelly Services worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KELYA. American Century Companies Inc. boosted its position in shares of Kelly Services by 1.1% in the 3rd quarter. American Century Companies Inc. now owns 295,539 shares of the business services provider’s stock valued at $5,376,000 after purchasing an additional 3,319 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Kelly Services by 32.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,233 shares of the business services provider’s stock valued at $259,000 after purchasing an additional 3,481 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Kelly Services by 80.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 3,616 shares during the period. River Road Asset Management LLC boosted its position in shares of Kelly Services by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 880,182 shares of the business services provider’s stock valued at $16,011,000 after purchasing an additional 4,009 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its position in shares of Kelly Services by 5.0% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 107,566 shares of the business services provider’s stock valued at $1,957,000 after purchasing an additional 5,147 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Insiders Place Their Bets

In other Kelly Services news, EVP Olivier Thirot sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total transaction of $481,400.00. Following the completion of the sale, the executive vice president now directly owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Olivier Thirot sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total transaction of $481,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy L. Dupree sold 12,711 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $24.98, for a total value of $317,520.78. Following the transaction, the senior vice president now directly owns 32,392 shares of the company’s stock, valued at $809,152.16. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Kelly Services Stock Down 1.1 %

Shares of NASDAQ KELYA opened at $23.46 on Friday. The stock has a market cap of $827.90 million, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.05 and a beta of 1.18. Kelly Services, Inc. has a 52-week low of $15.53 and a 52-week high of $25.27. The business has a 50-day moving average price of $24.06 and a 200 day moving average price of $21.61.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.38. Kelly Services had a return on equity of 6.50% and a net margin of 0.75%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts anticipate that Kelly Services, Inc. will post 1.78 earnings per share for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.30 dividend on an annualized basis and a yield of 1.28%. Kelly Services’s payout ratio is 30.61%.

Kelly Services Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.