Boston Partners Purchases New Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Boston Partners acquired a new position in Kelly Services, Inc. (NASDAQ:KELYA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 749,416 shares of the business services provider’s stock, valued at approximately $18,618,000. Boston Partners owned 2.11% of Kelly Services at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Kelly Services by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,694,094 shares of the business services provider’s stock valued at $58,247,000 after purchasing an additional 22,006 shares during the period. LSV Asset Management grew its position in shares of Kelly Services by 3.4% during the first quarter. LSV Asset Management now owns 585,429 shares of the business services provider’s stock worth $14,659,000 after acquiring an additional 19,100 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Kelly Services by 8.2% in the 1st quarter. Empowered Funds LLC now owns 173,047 shares of the business services provider’s stock worth $4,333,000 after acquiring an additional 13,092 shares during the period. Foundry Partners LLC increased its holdings in shares of Kelly Services by 75.3% in the 1st quarter. Foundry Partners LLC now owns 150,920 shares of the business services provider’s stock worth $3,779,000 after acquiring an additional 64,820 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in Kelly Services in the 4th quarter valued at about $1,730,000. Institutional investors own 76.34% of the company’s stock.

Kelly Services Stock Down 2.7 %

Shares of KELYA traded down $0.61 during mid-day trading on Friday, reaching $21.93. The company’s stock had a trading volume of 161,945 shares, compared to its average volume of 221,108. Kelly Services, Inc. has a 1 year low of $16.85 and a 1 year high of $25.27. The company has a market cap of $778.95 million, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.80 and a beta of 1.21. The business has a fifty day moving average of $21.82 and a 200 day moving average of $22.60.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.46 by $0.10. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. On average, analysts predict that Kelly Services, Inc. will post 2.16 earnings per share for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, May 17th. Kelly Services’s payout ratio is 21.58%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research note on Tuesday, May 28th.

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.