Kelly Services, Inc. (NASDAQ:KELYA) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 87.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,286 shares of the business services provider’s stock after purchasing an additional 43,033 shares during the quarter. Martingale Asset Management L P owned about 0.26% of Kelly Services worth $1,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Kelly Services by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock valued at $57,972,000 after buying an additional 21,230 shares during the period. Pacer Advisors Inc. boosted its position in shares of Kelly Services by 45.7% during the 3rd 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. Boston Partners acquired a new position in shares of Kelly Services in the 1st quarter worth approximately $18,618,000. American Century Companies Inc. raised its holdings in shares of Kelly Services by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after purchasing an additional 180,238 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Kelly Services by 5.2% during the second quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after purchasing an additional 30,300 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

Insider Activity

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of Kelly Services stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $13.88 per share, with a total value of $48,580.00. Following the purchase, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reduced their target price on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 18th.

Kelly Services Stock Performance

Kelly Services stock opened at $14.65 on Friday. Kelly Services, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $25.27. The firm’s 50 day simple moving average is $18.63 and its 200-day simple moving average is $20.44. 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 company has a market cap of $521.69 million, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. Kelly Services’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. As a group, equities research analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.05%. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

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.