Resona Asset Management Co. Ltd. Boosts Stock Position in Exponent, Inc. (NASDAQ:EXPO)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Exponent, Inc. by 17.3%, acquiring a total of 506,784 shares valued at approximately $41.25 million.
• Exponent recently announced a quarterly dividend of $0.30, which will be paid on September 19th, providing a 1.7% yield based on an annualized figure.
• The company reported a 7.3% revenue growth year-over-year, with earnings per share of $0.52 for the last quarter, surpassing analyst expectations.

Resona Asset Management Co. Ltd. increased its position in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 506,784 shares of the business services provider's stock after purchasing an additional 74,605 shares during the quarter. Resona Asset Management Co. Ltd. owned approximately 1.00% of Exponent worth $41,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Exponent by 1.5% during the 4th quarter. Bank of Montreal Can now owns 8,747 shares of the business services provider's stock worth $779,000 after buying an additional 131 shares during the period. State of Alaska Department of Revenue raised its holdings in Exponent by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 5,946 shares of the business services provider's stock worth $481,000 after purchasing an additional 155 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Exponent by 2.5% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 6,709 shares of the business services provider's stock worth $544,000 after purchasing an additional 164 shares in the last quarter. Portside Wealth Group LLC grew its stake in Exponent by 6.0% in the first quarter. Portside Wealth Group LLC now owns 2,993 shares of the business services provider's stock valued at $243,000 after acquiring an additional 170 shares during the period. Finally, Franklin Resources Inc. increased its stake in Exponent by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 3,710 shares of the business services provider's stock worth $331,000 after purchasing an additional 189 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Exponent Price Performance

Shares of Exponent stock traded down $1.42 on Friday, hitting $69.25. The company had a trading volume of 539,740 shares, compared to its average volume of 310,341. The firm has a market capitalization of $3.50 billion, a P/E ratio of 34.63 and a beta of 0.89. Exponent, Inc. has a twelve month low of $63.81 and a twelve month high of $115.75. The stock has a 50-day moving average of $73.45 and a 200-day moving average of $78.82.

Exponent (NASDAQ:EXPO - Get Free Report) last released its 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 firm had revenue of $132.87 million for the quarter, compared to analysts' expectations of $130.82 million. Exponent had a return on equity of 24.19% and a net margin of 18.35%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Equities analysts predict that Exponent, Inc. will post 1.98 EPS for the current year.

Exponent Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Exponent's dividend payout ratio (DPR) is 60.00%.

Insiders Place Their Bets

In other news, VP Bradley A. James sold 2,694 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $79.52, for a total transaction of $214,226.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Rakow sold 1,573 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $77.72, for a total value of $122,253.56. The disclosure for this sale can be found here. Insiders sold a total of 12,758 shares of company stock valued at $949,848 over the last ninety days. 1.60% of the stock is owned by 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.