Walthausen & Co. LLC Takes $3.58 Million Position in Kelly Services, Inc. (KELYA)
Walthausen & Co. LLC bought a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 142,500 shares of the business services provider’s stock, valued at approximately $3,575,000. Walthausen & Co. LLC owned approximately 0.37% of Kelly Services at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Kelly Services in the second quarter worth about $117,000. Victory Capital Management Inc. increased its stake in shares of Kelly Services by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,484 shares of the business services provider’s stock worth $190,000 after purchasing an additional 1,271 shares during the period. Macquarie Group Ltd. bought a new position in shares of Kelly Services in the third quarter worth about $218,000. BNP Paribas Arbitrage SA increased its stake in shares of Kelly Services by 49.1% in the second quarter. BNP Paribas Arbitrage SA now owns 12,079 shares of the business services provider’s stock worth $271,000 after purchasing an additional 3,976 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Kelly Services by 20.7% in the second quarter. Voya Investment Management LLC now owns 13,274 shares of the business services provider’s stock worth $298,000 after purchasing an additional 2,278 shares during the period. Institutional investors own 66.11% of the company’s stock.
In related news, CEO George S. Corona sold 3,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.06, for a total transaction of $84,180.00. Following the transaction, the chief executive officer now directly owns 193,473 shares in the company, valued at $5,428,852.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie A. Murphy sold 7,500 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $28.69, for a total value of $215,175.00. Following the transaction, the director now owns 22,695 shares in the company, valued at $651,119.55. The disclosure for this sale can be found here. Insiders have sold 17,400 shares of company stock worth $499,800 over the last 90 days. Corporate insiders own 13.30% of the company’s stock.
Kelly Services, Inc. (NASDAQ KELYA) opened at $28.02 on Wednesday. The company has a market capitalization of $1,090.89, a PE ratio of 14.56 and a beta of 1.10. Kelly Services, Inc. has a 12 month low of $20.27 and a 12 month high of $30.93.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.27. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. equities analysts expect that Kelly Services, Inc. will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd were paid a dividend of $0.075 per share. The ex-dividend date was Tuesday, November 21st. This represents a $0.30 annualized dividend and a yield of 1.07%. Kelly Services’s dividend payout ratio is 15.71%.
A number of equities analysts have recently commented on the company. BidaskClub lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
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Kelly Services Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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