Kelly Services, Inc. (NASDAQ:KELYA) to Issue Quarterly Dividend of $0.08

Kelly Services, Inc. (NASDAQ:KELYA) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Monday, May 18th will be given a dividend of 0.075 per share by the business services provider on Tuesday, June 2nd. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, May 18th.

Kelly Services has raised its dividend by an average of 0.3%annually over the last three years. Kelly Services has a payout ratio of 10.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kelly Services to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 15.5%.

Kelly Services Stock Down 2.1%

NASDAQ:KELYA opened at $9.60 on Friday. Kelly Services has a 12-month low of $7.98 and a 12-month high of $14.94. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $328.44 million, a P/E ratio of -1.26, a P/E/G ratio of 0.74 and a beta of 0.79. The stock’s fifty day simple moving average is $9.15 and its 200-day simple moving average is $9.38.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Equities research analysts expect that Kelly Services will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christopher D. Layden purchased 10,100 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average price of $8.80 per share, with a total value of $88,880.00. Following the purchase, the chief executive officer directly owned 382,513 shares of the company’s stock, valued at $3,366,114.40. This trade represents a 2.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Peterson Williams sold 29,999 shares of Kelly Services stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the sale, the executive vice president directly owned 82,355 shares in the company, valued at $805,431.90. This represents a 26.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have acquired 35,200 shares of company stock valued at $327,137. 5.40% of the stock is owned by company insiders.

Institutional Trading of Kelly Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Kelly Services by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after purchasing an additional 151,655 shares during the period. Boston Partners raised its stake in shares of Kelly Services by 0.4% in the 3rd quarter. Boston Partners now owns 2,051,499 shares of the business services provider’s stock valued at $26,908,000 after purchasing an additional 9,020 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Kelly Services by 39.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock valued at $16,798,000 after purchasing an additional 544,309 shares during the period. Private Management Group Inc. raised its stake in shares of Kelly Services by 101.8% in the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after purchasing an additional 640,076 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Kelly Services by 8.5% in the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after purchasing an additional 93,026 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.