Palouse Capital Management Inc. Grows Position in Kelly Services, Inc. (NASDAQ:KELYA)

Palouse Capital Management Inc. grew its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,194 shares of the business services provider’s stock after purchasing an additional 950 shares during the quarter. Palouse Capital Management Inc.’s holdings in Kelly Services were worth $114,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of KELYA. Pacer Advisors Inc. boosted its position in shares of Kelly Services by 45.7% during the third quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock valued at $25,944,000 after purchasing an additional 380,035 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Kelly Services by 1,730.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 221,271 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Kelly Services during the third quarter valued at $2,122,000. Jacobs Levy Equity Management Inc. increased its position in Kelly Services by 20.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 329,932 shares of the business services provider’s stock valued at $7,064,000 after acquiring an additional 56,457 shares during the last quarter. Finally, Barclays PLC increased its position in Kelly Services by 238.0% in the third quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock worth $1,362,000 after buying an additional 44,811 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Price Performance

NASDAQ:KELYA opened at $14.14 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. The business has a 50 day simple moving average of $13.81 and a 200-day simple moving average of $17.37. Kelly Services, Inc. has a 1 year low of $12.68 and a 1 year high of $25.27. The firm has a market capitalization of $503.53 million, a price-to-earnings ratio of 12.30, a PEG ratio of 0.40 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.38. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. Equities analysts forecast that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.30 annualized dividend and a dividend yield of 2.12%. Kelly Services’s dividend payout ratio is presently 26.09%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Separately, Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of Kelly Services in a research report on Wednesday.

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.