Resources Connection, Inc. (RGP) To Go Ex-Dividend on September 3rd

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Thursday, September 3rd will be given a dividend of 0.07 per share on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Thursday, September 3rd.

Resources Connection has decreased its dividend by an average of 0.1%per year over the last three years. Resources Connection has a dividend payout ratio of 53.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Resources Connection to earn ($0.18) per share next year, which means the company may not be able to cover its $0.28 annual dividend with an expected future payout ratio of -155.6%.

Resources Connection Trading Down 1.4%

Shares of NASDAQ RGP opened at $4.19 on Tuesday. Resources Connection has a 12-month low of $3.06 and a 12-month high of $5.55. The company has a market cap of $144.30 million, a PE ratio of -3.49 and a beta of 0.54. The stock has a 50 day simple moving average of $4.34 and a 200-day simple moving average of $4.13.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Wednesday, July 22nd. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Resources Connection had a negative return on equity of 4.63% and a negative net margin of 8.98%.The firm had revenue of $106.11 million for the quarter, compared to analysts’ expectations of $106.76 million. Sell-side analysts forecast that Resources Connection will post -0.44 earnings per share for the current fiscal year.

Institutional Trading of Resources Connection

Several large investors have recently added to or reduced their stakes in the company. Tieton Capital Management LLC acquired a new position in Resources Connection during the second quarter valued at $11,975,000. Sei Investments Co. grew its stake in Resources Connection by 111.5% during the 1st quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock valued at $4,959,000 after acquiring an additional 700,943 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Resources Connection by 574.3% in the 1st quarter. North Star Investment Management Corp. now owns 236,000 shares of the company’s stock valued at $880,000 after purchasing an additional 201,000 shares during the period. Renaissance Technologies LLC lifted its position in shares of Resources Connection by 10.7% in the first quarter. Renaissance Technologies LLC now owns 311,200 shares of the company’s stock worth $1,161,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new position in Resources Connection during the second quarter valued at approximately $309,000. 93.23% of the stock is owned by institutional investors and hedge funds.

About Resources Connection

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.