Sandler Capital Management Has $1.39 Million Stock Holdings in 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 cut its holdings in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in Exponent by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 441,646 shares of the business services provider's stock valued at $35,800,000 after purchasing an additional 8,501 shares during the last quarter. Entropy Technologies LP acquired a new stake in Exponent during the first quarter valued at approximately $547,000. Bessemer Group Inc. lifted its stake in 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 last quarter. SG Americas Securities LLC acquired a new stake in Exponent during the first quarter valued at approximately $665,000. Finally, Fifth Third Bancorp lifted its stake in Exponent by 14.4% during the first quarter. Fifth Third Bancorp now owns 6,835 shares of the business services provider's stock valued at $554,000 after purchasing an additional 858 shares during the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Exponent Trading Down 1.9%

EXPO stock traded down $1.34 on Tuesday, hitting $69.66. 423,676 shares of the company's stock traded hands, compared to its average volume of 455,850. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 34.83 and a beta of 0.94. Exponent, Inc. has a 1-year low of $63.81 and a 1-year high of $115.75. The stock has a fifty day moving average of $72.05 and a 200-day moving average of $76.53.

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

Exponent Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given 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 60.00%.

Insider Activity at Exponent

In related news, CEO Catherine Corrigan sold 4,896 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $71.09, for a total value of $348,056.64. Following the completion of the sale, the chief executive officer owned 81,342 shares in the company, valued at approximately $5,782,602.78. This represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Sala sold 1,595 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $70.64, for a total transaction of $112,670.80. 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.