Municipal Employees Retirement System of Michigan increased its position in shares of Resources Connection, Inc. (NASDAQ:RECN) by 58.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,130 shares of the business services provider’s stock after purchasing an additional 4,120 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Resources Connection were worth $155,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Resources Connection by 2.5% in the second quarter. Vanguard Group Inc. now owns 2,899,783 shares of the business services provider’s stock valued at $39,727,000 after acquiring an additional 69,492 shares during the last quarter. Royce & Associates LP boosted its stake in Resources Connection by 15.1% in the second quarter. Royce & Associates LP now owns 2,373,739 shares of the business services provider’s stock valued at $32,520,000 after acquiring an additional 311,900 shares during the last quarter. Palisade Capital Management LLC NJ boosted its stake in Resources Connection by 1.9% in the third quarter. Palisade Capital Management LLC NJ now owns 939,848 shares of the business services provider’s stock valued at $13,064,000 after acquiring an additional 17,360 shares during the last quarter. State Street Corp boosted its stake in Resources Connection by 4.0% in the second quarter. State Street Corp now owns 869,657 shares of the business services provider’s stock valued at $11,912,000 after acquiring an additional 33,348 shares during the last quarter. Finally, Sapience Investments LLC boosted its stake in Resources Connection by 16.6% in the second quarter. Sapience Investments LLC now owns 524,984 shares of the business services provider’s stock valued at $7,192,000 after acquiring an additional 74,930 shares during the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.

Shares of Resources Connection, Inc. (NASDAQ RECN) opened at $15.30 on Friday. Resources Connection, Inc. has a 12-month low of $12.05 and a 12-month high of $19.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 2.82. The stock has a market cap of $460.96, a P/E ratio of 25.93 and a beta of 1.18.

Resources Connection (NASDAQ:RECN) last posted its quarterly earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The company had revenue of $141.20 million for the quarter, compared to analyst estimates of $140.29 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. sell-side analysts expect that Resources Connection, Inc. will post 0.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Wednesday, November 15th. Resources Connection’s dividend payout ratio (DPR) is currently 102.13%.

A number of research analysts have weighed in on RECN shares. BidaskClub cut shares of Resources Connection from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, Deutsche Bank reiterated a “sell” rating and issued a $13.00 target price (up from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Resources Connection has an average rating of “Hold” and an average price target of $15.00.

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Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

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Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

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