Kayne Anderson Rudnick Investment Management LLC Has $388.42 Million Position in Exponent, Inc. $EXPO

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its shareholding in Exponent, Inc. by 1.2% to approximately 4.79 million shares, now valued at $388.42 million.
• Exponent reported $0.52 earnings per share for the last quarter, exceeding analyst expectations of $0.48, with a 7.3% revenue growth year-over-year.
• The company announced a $0.30 quarterly dividend with an annualized yield of 1.7%, set to be paid on September 19th, 2023.

Kayne Anderson Rudnick Investment Management LLC lifted its stake in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,791,747 shares of the business services provider's stock after purchasing an additional 55,190 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 9.44% of Exponent worth $388,419,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EXPO. State of Alaska Department of Revenue raised its stake in shares of Exponent by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 5,946 shares of the business services provider's stock worth $481,000 after buying an additional 155 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in 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 acquiring an additional 164 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of 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 purchasing an additional 170 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Exponent by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 12,200 shares of the business services provider's stock worth $989,000 after acquiring an additional 200 shares during the period. Finally, Hardy Reed LLC raised its stake in Exponent by 5.5% during the first quarter. Hardy Reed LLC now owns 3,850 shares of the business services provider's stock worth $312,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 92.37% of the company's stock.

Exponent Stock Performance

EXPO traded down $0.75 on Thursday, reaching $72.23. 505,933 shares of the company's stock were exchanged, compared to its average volume of 326,169. The company's 50 day moving average is $72.65 and its 200-day moving average is $77.67. Exponent, Inc. has a twelve month low of $63.81 and a twelve month high of $115.75. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 36.12 and a beta of 0.89.

Exponent (NASDAQ:EXPO - Get Free Report) last issued its quarterly earnings data 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 firm 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 firm's 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. Sell-side analysts forecast that Exponent, Inc. will post 1.98 EPS for the current year.

Exponent Announces Dividend

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

Insiders Place Their Bets

In other news, VP Joseph Sala sold 1,595 shares of the business'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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Catherine Corrigan sold 4,896 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was 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 directly owned 81,342 shares of the company's stock, valued at $5,782,602.78. This trade represents a 5.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

About Exponent

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.