Illinois Municipal Retirement Fund Has $406,000 Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Illinois Municipal Retirement Fund reduced its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,778 shares of the business services provider’s stock after selling 719 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of Kelly Services worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kelly Services by 80.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider’s stock valued at $148,000 after buying an additional 3,616 shares during the period. EMC Capital Management lifted its stake in Kelly Services by 299.7% in the third quarter. EMC Capital Management now owns 9,504 shares of the business services provider’s stock valued at $173,000 after buying an additional 7,126 shares during the period. Teacher Retirement System of Texas acquired a new position in Kelly Services in the third quarter valued at approximately $231,000. Allspring Global Investments Holdings LLC lifted its stake in Kelly Services by 32.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,233 shares of the business services provider’s stock valued at $259,000 after buying an additional 3,481 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Kelly Services in the third quarter valued at approximately $337,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Olivier Thirot sold 20,000 shares of the business’s 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 in the company, valued at $4,207,267.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Timothy L. Dupree sold 12,711 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $24.98, for a total transaction of $317,520.78. Following the completion of the sale, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Olivier Thirot sold 20,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $24.07, for a total value of $481,400.00. Following the sale, the executive vice president now owns 174,793 shares of the company’s stock, valued at approximately $4,207,267.51. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Kelly Services Stock Performance

Shares of KELYA opened at $23.36 on Thursday. Kelly Services, Inc. has a 52-week low of $15.53 and a 52-week high of $25.27. The business’s 50 day moving average price is $24.07 and its two-hundred day moving average price is $21.76. The firm has a market cap of $824.37 million, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.55 by $0.38. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. Kelly Services had a return on equity of 6.50% and a net margin of 0.75%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. Research analysts predict that Kelly Services, Inc. will post 1.78 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.30 annualized dividend and a dividend yield of 1.28%. Kelly Services’s dividend payout ratio is 30.61%.

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.