Exponent, Inc. $EXPO Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in Exponent, Inc. by 12.1% during the second quarter, now holding 523,161 shares valued at approximately $39 million.
• Exponent reported earnings of $0.52 per share for the last quarter, exceeding analysts' estimates of $0.48, and achieving a 7.3% year-over-year revenue growth.
• The company declared a dividend of $0.30 per share with an annualized yield of 1.7%, reflecting a dividend payout ratio of 60%.

Riverbridge Partners LLC lowered its stake in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 12.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 523,161 shares of the business services provider's stock after selling 72,189 shares during the period. Riverbridge Partners LLC owned approximately 1.03% of Exponent worth $39,085,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group increased its holdings in shares of Exponent by 10,200.0% in the first quarter. Brooklyn Investment Group now owns 309 shares of the business services provider's stock valued at $25,000 after purchasing an additional 306 shares during the period. Whipplewood Advisors LLC increased its holdings in shares of Exponent by 5,333.3% in the first quarter. Whipplewood Advisors LLC now owns 326 shares of the business services provider's stock valued at $26,000 after purchasing an additional 320 shares during the period. UMB Bank n.a. increased its holdings in shares of Exponent by 859.1% in the first quarter. UMB Bank n.a. now owns 633 shares of the business services provider's stock valued at $51,000 after purchasing an additional 567 shares during the period. Bessemer Group Inc. increased its holdings in shares of Exponent by 103.3% in the first quarter. Bessemer Group Inc. now owns 681 shares of the business services provider's stock valued at $55,000 after purchasing an additional 346 shares during the period. Finally, SVB Wealth LLC acquired a new position in Exponent during the first quarter worth $80,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Exponent Price Performance

Shares of EXPO stock opened at $68.96 on Thursday. The business's fifty day moving average price is $70.81 and its 200 day moving average price is $75.46. Exponent, Inc. has a 1-year low of $63.81 and a 1-year high of $115.75. The firm has a market capitalization of $3.48 billion, a PE ratio of 34.48 and a beta of 0.94.

Exponent (NASDAQ:EXPO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. Exponent had a return on equity of 24.19% and a net margin of 18.35%.The firm had revenue of $132.87 million for the quarter, compared to analyst estimates of $130.82 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. Exponent's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Exponent, Inc. will post 1.98 earnings per share for the current fiscal year.

Exponent Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 5th. Exponent's dividend payout ratio is currently 60.00%.

Insiders Place Their Bets

In related news, VP Joseph Sala sold 1,595 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $70.64, for a total transaction of $112,670.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Catherine Corrigan sold 4,905 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $69.91, for a total value of $342,908.55. Following the transaction, the chief executive officer directly owned 82,753 shares in the company, valued at $5,785,262.23. This represents a 5.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,396 shares of company stock worth $803,636 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Exponent Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.

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