Meeder Asset Management Inc. Makes New $51,000 Investment in Kelly Services, Inc. (NASDAQ:KELYA)

Meeder Asset Management Inc. acquired a new stake in Kelly Services, Inc. (NASDAQ:KELYA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,394 shares of the business services provider’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KELYA. Innealta Capital LLC acquired a new stake in Kelly Services in the 2nd quarter valued at $39,000. nVerses Capital LLC acquired a new stake in shares of Kelly Services in the 2nd quarter valued at $47,000. SG Americas Securities LLC bought a new stake in shares of Kelly Services in the 1st quarter worth about $125,000. Lazard Asset Management LLC acquired a new stake in shares of Kelly Services during the 1st quarter worth about $177,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Kelly Services during the 1st quarter valued at about $221,000. 76.34% of the stock is owned by institutional investors.

Kelly Services Trading Up 2.4 %

KELYA opened at $21.14 on Friday. Kelly Services, Inc. has a 1-year low of $17.40 and a 1-year high of $25.27. The firm has a 50-day moving average price of $21.18 and a two-hundred day moving average price of $22.41. The stock has a market capitalization of $751.95 million, a PE ratio of 15.21, a PEG ratio of 0.65 and a beta of 1.19. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.16.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. Kelly Services’s revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities analysts anticipate that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, August 21st. Kelly Services’s dividend payout ratio (DPR) is presently 21.58%.

Wall Street Analyst Weigh In

KELYA has been the subject of several recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Kelly Services in a report on Thursday, August 15th. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

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.