Barrett Business Services Inc. (NASDAQ:BBSI) shares reached a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $51.85 and last traded at $52.00, with a volume of 88,571 shares changing hands. The stock had previously closed at $50.14.

The newly announced dividend which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, November 18th. Barrett Business Services’s payout ratio is 29.53%.

Separately, TheStreet raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th.

The firm has a market cap of $380.84 million, a PE ratio of 16.84 and a beta of 0.94. The firm has a 50-day moving average of $47.04 and a 200-day moving average of $41.89.

A number of hedge funds have recently added to or reduced their stakes in BBSI. BlackRock Advisors LLC increased its stake in Barrett Business Services by 15.7% in the third quarter. BlackRock Advisors LLC now owns 3,874 shares of the company’s stock valued at $192,000 after buying an additional 527 shares during the period. Acrospire Investment Management LLC increased its stake in Barrett Business Services by 43.5% in the second quarter. Acrospire Investment Management LLC now owns 4,622 shares of the company’s stock valued at $191,000 after buying an additional 1,400 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Barrett Business Services during the second quarter valued at approximately $209,000. PNC Financial Services Group Inc. increased its stake in Barrett Business Services by 1.9% in the third quarter. PNC Financial Services Group Inc. now owns 5,267 shares of the company’s stock valued at $262,000 after buying an additional 100 shares during the period. Finally, Deere & Co. purchased a new position in shares of Barrett Business Services during the second quarter valued at about $319,000. Hedge funds and other institutional investors own 66.58% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc (BBSI) is a provider of business management solutions for small and mid-sized companies. The Company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

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