Sandler Capital Management Sells 17,752 Shares of Exponent, Inc. $EXPO

Key Points

• Sandler Capital Management reduced its stake in Exponent, Inc. by 50.9%, selling 17,752 shares to hold a total of 17,109 shares worth approximately $1.39 million as of the recent quarter.
• Exponent's recent earnings report indicated $0.52 earnings per share, surpassing analysts' estimates, along with a 7.3% year-over-year revenue growth to $132.87 million.
• The company announced a quarterly dividend of $0.30 per share, with a yield of 1.7%, scheduled for payment on September 19th, 2023.

Sandler Capital Management lessened its holdings in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) by 50.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,109 shares of the business services provider's stock after selling 17,752 shares during the period. Sandler Capital Management's holdings in Exponent were worth $1,387,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group boosted its holdings in Exponent by 10,200.0% during the 1st quarter. Brooklyn Investment Group now owns 309 shares of the business services provider's stock valued at $25,000 after acquiring an additional 306 shares during the period. Whipplewood Advisors LLC lifted its position in shares of Exponent by 5,333.3% during the first quarter. Whipplewood Advisors LLC now owns 326 shares of the business services provider's stock worth $26,000 after purchasing an additional 320 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Exponent by 859.1% during the first quarter. UMB Bank n.a. now owns 633 shares of the business services provider's stock worth $51,000 after purchasing an additional 567 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Exponent by 103.3% during 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 bought a new position in shares of Exponent in the first quarter worth about $80,000. Institutional investors own 92.37% of the company's stock.

Exponent Stock Up 2.3%

EXPO traded up $1.57 on Thursday, reaching $70.95. 322,302 shares of the company traded hands, compared to its average volume of 331,867. The company has a market cap of $3.58 billion, a P/E ratio of 35.48 and a beta of 0.94. Exponent, Inc. has a one year low of $63.81 and a one year high of $115.75. The firm has a fifty day simple moving average of $71.89 and a two-hundred day simple moving average of $76.48.

Exponent (NASDAQ:EXPO - Get Free Report) last issued its earnings results on Thursday, July 31st. The business services provider reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $132.87 million for the quarter, compared to analyst estimates of $130.82 million. Exponent had a net margin of 18.35% and a return on equity of 24.19%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. On average, equities analysts forecast that Exponent, Inc. will post 1.98 earnings per share for the current year.

Exponent Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. Exponent's dividend payout ratio is currently 60.00%.

Insider Buying and Selling at Exponent

In other Exponent news, VP Joseph Sala sold 1,595 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $70.64, for a total transaction of $112,670.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Catherine Corrigan sold 4,896 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $71.09, for a total transaction of $348,056.64. Following the completion of the sale, the chief executive officer owned 81,342 shares of the company's stock, valued at approximately $5,782,602.78. This represents a 5.68% decrease in their position. The disclosure for this sale can be found here. 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.