Resources Connection, Inc. (NASDAQ:RGP) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in Resources Connection, Inc. (NASDAQ:RGP – Get Rating) by 41.9% during the 3rd quarter, Holdings Channel reports. The firm owned 52,955 shares of the company’s stock after buying an additional 15,644 shares during the quarter. Federated Hermes Inc.’s holdings in Resources Connection were worth $957,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Resources Connection by 1.0% in the third quarter. BlackRock Inc. now owns 5,202,277 shares of the company’s stock valued at $94,006,000 after purchasing an additional 53,297 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Resources Connection by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,408,301 shares of the company’s stock worth $43,518,000 after acquiring an additional 6,798 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Resources Connection by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,210,490 shares of the company’s stock worth $37,888,000 after acquiring an additional 55,065 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Resources Connection by 13.5% in the third quarter. Royce & Associates LP now owns 1,479,058 shares of the company’s stock worth $26,727,000 after acquiring an additional 175,550 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Resources Connection by 1.6% in the second quarter. State Street Corp now owns 1,311,335 shares of the company’s stock worth $26,712,000 after acquiring an additional 20,426 shares during the last quarter. 84.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RGP. Bank of America raised Resources Connection from an “underperform” rating to a “neutral” rating in a research note on Monday, November 14th. StockNews.com raised Resources Connection from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Resources Connection Stock Performance

Shares of Resources Connection stock opened at $17.49 on Tuesday. Resources Connection, Inc. has a one year low of $15.38 and a one year high of $23.18. The company has a market cap of $588.19 million, a price-to-earnings ratio of 7.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.76 and a current ratio of 2.76. The business’s 50 day moving average price is $17.64 and its 200 day moving average price is $18.24.

Resources Connection (NASDAQ:RGP – Get Rating) last announced its quarterly earnings data on Wednesday, January 4th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. Resources Connection had a return on equity of 19.88% and a net margin of 9.14%. The firm had revenue of $200.36 million for the quarter, compared to the consensus estimate of $198.54 million. On average, research analysts predict that Resources Connection, Inc. will post 1.78 EPS for the current year.

Resources Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Thursday, February 16th will be given a $0.14 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $0.56 dividend on an annualized basis and a yield of 3.20%. Resources Connection’s dividend payout ratio is currently 25.11%.

Insider Buying and Selling at Resources Connection

In related news, Director Anthony Cherbak sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $16.94, for a total value of $254,100.00. Following the sale, the director now owns 45,788 shares in the company, valued at approximately $775,648.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.46% of the company’s stock.

Resources Connection Company Profile

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Resources Connection Inc engages in the provision of business consulting services. It offers consulting and business initiative support services to its global client base in the areas of accounting, finance, corporate governance risk and compliance management, corporate advisory strategic communications and restructuring, information management, human capital, supply chain management, healthcare solutions, and legal and regulatory.