Key Points
Martin Capital disposed of its entire Robert Half stake by selling 158,652 shares; the estimated transaction value was roughly $4.5 million based on quarterly average pricing.
Post-trade, Martin Capital holds zero shares of Robert Half, marking a full exit.
The position was previously 1.6% of the fund's assets under management as of the prior quarter.
What happened
Martin Capital Partners, LLC disclosed in an April 7, 2026, SEC filing that it sold out of its entire Robert Half(NYSE:RHI) position, an estimated $4.5 million trade based on quarterly average pricing.
What else to know
- Martin Capital Partners, LLC fully exited its Robert Half position, which now represents 0% of the fund’s 13F reportable AUM
- Top holdings after the filing:
- NASDAQ: AMGN: $10.69 million (4.0% of AUM)
- NYSE: CVX: $10.30 million (3.8% of AUM)
- NYSE: JNJ: $10.25 million (3.8% of AUM)
- NYSE: CFR: $9.59 million (3.6% of AUM)
- NASDAQ: CME: $9.32 million (3.5% of AUM)
- As of April 7, 2026, Robert Half shares were priced at $24.27, down 44.6% over the past year, underperforming the S&P 500 by about 75 percentage points
Company overview
| Metric | Value |
|---|---|
| Market cap | $2.5 billion |
| Revenue (TTM) | $5.38 billion |
| Net income (TTM) | $133.0 million |
| Dividend yield | 9.5% |
Company snapshot
Robert Half is a global provider of professional staffing and risk consulting services, with operations spanning North America, South America, Europe, Asia, and Australia.
- The company provides its services across accounting, finance, IT, legal, and creative sectors, generating revenue primarily from temporary and permanent placement fees and consulting projects.
- The company’s business model has three main segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services.
What this transaction means for investors
Martin Capital's decision to completely exit Robert Half isn't hard to understand in context -- the company has been going through a very rough stretch. Shares are down nearly 45% over the past year while the broader market has done quite well. The staffing industry has faced real headwinds: a cooling labor market, slower corporate hiring, and a shift by some employers toward leaner, more permanent workforce strategies have all weighed on companies like Robert Half that depend on demand for contract and temporary workers.
That said, a full exit doesn't always signal panic. Martin Capital appears to be a conservative, income-oriented manager -- its top holdings skew heavily toward dividend stalwarts like Amgen (NASDAQ:AMGN), Chevron (NYSE:CVX), Johnson & Johnson (NYSE:JNJ), and Realty Income(NYSE:O). Robert Half, after a year of significant price erosion, may simply no longer fit the risk-reward profile the fund is targeting.
For everyday investors, the more important question is whether Robert Half’s decline reflects a temporary cyclical dip or a longer-term structural shift in how companies hire. The staffing sector tends to be economically sensitive -- when hiring freezes, firms like Robert Half feel it first. But they also tend to recover quickly when the job market picks back up. Investors with a longer time horizon who believe in a labor market rebound might view the current price as an opportunity, while those sharing Martin Capital's apparent caution may prefer to wait for clearer signs of a turnaround.
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Andy Gould has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amgen, Chevron, and Realty Income. The Motley Fool recommends CME Group and Johnson & Johnson. The Motley Fool has a disclosure policy.
