Kelly Services (NASDAQ:KELYA) Trading Down 5.9%

Kelly Services, Inc. (NASDAQ:KELYA) shares dropped 5.9% during trading on Thursday . The company traded as low as $22.07 and last traded at $22.12. Approximately 14,795 shares traded hands during trading, a decline of 93% from the average daily volume of 223,840 shares. The stock had previously closed at $23.51.

Kelly Services Trading Down 6.8 %

The company has a market capitalization of $772.83 million, a PE ratio of 23.99, a PEG ratio of 1.02 and a beta of 1.19. The firm’s 50-day simple moving average is $24.03 and its 200-day simple moving average is $21.95.

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

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Monday, February 26th. Kelly Services’s payout ratio is currently 30.61%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, SVP Timothy L. Dupree sold 12,711 shares of Kelly Services stock in a transaction on Friday, March 8th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Timothy L. Dupree sold 12,711 shares of the company’s 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 transaction, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Olivier Thirot sold 20,000 shares of Kelly Services 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 owns 174,793 shares of the company’s stock, valued at $4,207,267.51. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Kelly Services by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,694,094 shares of the business services provider’s stock worth $58,247,000 after purchasing an additional 22,006 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Kelly Services by 3.6% in the third quarter. Invesco Ltd. now owns 1,491,736 shares of the business services provider’s stock worth $27,135,000 after buying an additional 51,283 shares in the last quarter. River Road Asset Management LLC lifted its stake in shares of Kelly Services by 0.5% in the third quarter. River Road Asset Management LLC now owns 880,182 shares of the business services provider’s stock worth $16,011,000 after buying an additional 4,009 shares in the last quarter. LSV Asset Management boosted its position in 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. Finally, Comerica Bank purchased a new stake in Kelly Services during the 3rd quarter valued at about $10,485,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

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.