Intech Investment Management LLC Acquires Shares of 42,406 Kelly Services, Inc. (NASDAQ:KELYA)

Intech Investment Management LLC bought a new stake in Kelly Services, Inc. (NASDAQ:KELYA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,406 shares of the business services provider’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. raised its position in shares of Kelly Services by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after buying an additional 668 shares in the last quarter. Bailard Inc. raised its position in shares of Kelly Services by 6.9% in the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after buying an additional 700 shares in the last quarter. US Bancorp DE raised its position in shares of Kelly Services by 9.3% in the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after buying an additional 866 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services in the 2nd quarter valued at approximately $30,000. Finally, Innealta Capital LLC acquired a new position in Kelly Services during the 2nd quarter worth approximately $39,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Price Performance

KELYA stock opened at $14.73 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. Kelly Services, Inc. has a 1 year low of $13.71 and a 1 year high of $25.27. The company has a 50 day simple moving average of $18.90 and a 200 day simple moving average of $20.55. The stock has a market cap of $524.54 million, a price-to-earnings ratio of 12.81, a P/E/G ratio of 0.59 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $0.50 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year. Research analysts anticipate that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is currently 26.09%.

Insider Buying and Selling at Kelly Services

In other news, SVP Daniel H. Malan acquired 3,500 shares of Kelly Services stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $13.88 per share, with a total value of $48,580.00. Following the purchase, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. This trade represents a 3.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

KELYA has been the subject of a number of research analyst reports. Barrington Research lowered their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

About Kelly Services

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.