Exponent, Inc. $EXPO Shares Sold by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management cut its Exponent position by 5.3% in the fourth quarter, though it still held 668,102 shares worth about $46.8 million at quarter-end.
• Several insiders sold shares recently, including VP Joseph Sala and CEO Catherine Corrigan; over the last 90 days, insiders have sold 17,026 shares valued at about $1.03 million.
• Analysts remain mixed but generally constructive: JPMorgan and UBS lowered their price targets, yet the stock still carries a Moderate Buy consensus with an average target of $77.50, while Exponent also posted stronger-than-expected quarterly earnings and revenue.

Resona Asset Management Co. Ltd. trimmed its position in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 668,102 shares of the business services provider's stock after selling 37,176 shares during the quarter. Resona Asset Management Co. Ltd. owned 1.34% of Exponent worth $46,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Exponent by 1.1% during the third quarter. Arizona State Retirement System now owns 14,984 shares of the business services provider's stock worth $1,041,000 after acquiring an additional 162 shares during the period. GAMMA Investing LLC increased its stake in shares of Exponent by 50.4% during the fourth quarter. GAMMA Investing LLC now owns 576 shares of the business services provider's stock worth $40,000 after acquiring an additional 193 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Exponent by 97.0% during the third quarter. Hantz Financial Services Inc. now owns 396 shares of the business services provider's stock worth $28,000 after acquiring an additional 195 shares during the period. Strs Ohio increased its stake in shares of Exponent by 11.1% during the fourth quarter. Strs Ohio now owns 2,000 shares of the business services provider's stock worth $139,000 after acquiring an additional 200 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Exponent by 86.1% during the fourth quarter. Allworth Financial LP now owns 469 shares of the business services provider's stock worth $33,000 after acquiring an additional 217 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Exponent news, VP Joseph Sala sold 2,066 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $56.66, for a total value of $117,059.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Catherine Corrigan sold 4,194 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,727.64. Following the completion of the sale, the chief executive officer directly owned 105,218 shares in the company, valued at $5,688,085.08. This trade represents a 3.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,026 shares of company stock valued at $1,033,421. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

EXPO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Exponent from $95.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday. UBS Group dropped their price target on shares of Exponent from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Exponent in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.50.

Exponent Trading Up 6.6%

EXPO stock opened at $57.35 on Tuesday. The company has a market cap of $2.78 billion, a P/E ratio of 26.67 and a beta of 0.78. Exponent, Inc. has a 52 week low of $51.91 and a 52 week high of $81.95. The company's 50-day moving average price is $65.38 and its 200 day moving average price is $69.69.

Exponent (NASDAQ:EXPO - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $149.53 million. Exponent had a net margin of 18.07% and a return on equity of 27.94%. The firm's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, equities research analysts expect that Exponent, Inc. will post 2.28 earnings per share for the current year.

Exponent Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.2%. Exponent's payout ratio is currently 57.67%.

About Exponent

Exponent, Inc NASDAQ: EXPO is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company's expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.

Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.

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