Foundry Partners LLC Decreases Stake in Kelly Services, Inc. (NASDAQ:KELYA)

Foundry Partners LLC reduced its position in Kelly Services, Inc. (NASDAQ:KELYA) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,100 shares of the business services provider’s stock after selling 1,540 shares during the period. Foundry Partners LLC owned approximately 0.24% of Kelly Services worth $1,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KELYA. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 buying an additional 3,616 shares during the last quarter. EMC Capital Management raised its stake in shares of Kelly Services by 299.7% in the 3rd quarter. EMC Capital Management now owns 9,504 shares of the business services provider’s stock valued at $173,000 after purchasing an additional 7,126 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Kelly Services in the 3rd quarter valued at about $231,000. Allspring Global Investments Holdings LLC raised its stake 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 in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Kelly Services in the 3rd quarter valued at about $271,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Timothy L. Dupree sold 12,711 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the sale, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Timothy L. Dupree sold 12,711 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the sale, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Olivier Thirot sold 20,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $24.07, for a total transaction of $481,400.00. Following the sale, the executive vice president now owns 174,793 shares in the company, valued at approximately $4,207,267.51. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $23.58 on Tuesday. The firm has a market cap of $832.14 million, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. The firm’s 50-day simple moving average is $23.93 and its 200-day simple moving average is $21.54. Kelly Services, Inc. has a 1 year low of $15.53 and a 1 year high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, February 15th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.38. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. Kelly Services had a net margin of 0.75% and a return on equity of 6.50%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. On average, equities analysts predict that Kelly Services, Inc. will post 1.78 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.075 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.27%. Kelly Services’s dividend payout ratio (DPR) is presently 30.61%.

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.