PineStone Asset Management Inc. Buys 7,600 Shares of Exponent, Inc. $EXPO

Key Points

• PineStone Asset Management Inc. increased its holdings in Exponent, Inc. by 6.6%, acquiring an additional 7,600 shares during the second quarter, bringing its total stake to 122,694 shares worth approximately $9.17 million.
• Exponent recently reported quarterly earnings of $0.52 per share, exceeding analysts' expectations, with a revenue increase of 7.3% compared to the previous year.
• The company also announced a quarterly dividend of $0.30 per share, with an annualized dividend yield of 1.7% and a payout ratio of 60%.

PineStone Asset Management Inc. lifted its stake in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,694 shares of the business services provider's stock after acquiring an additional 7,600 shares during the quarter. PineStone Asset Management Inc. owned 0.24% of Exponent worth $9,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EXPO. Brooklyn Investment Group raised its stake 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 buying an additional 306 shares during the last quarter. Whipplewood Advisors LLC increased its position in Exponent by 5,333.3% during the first quarter. Whipplewood Advisors LLC now owns 326 shares of the business services provider's stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. UMB Bank n.a. increased its position in Exponent by 859.1% during the first quarter. UMB Bank n.a. now owns 633 shares of the business services provider's stock valued at $51,000 after acquiring an additional 567 shares during the last quarter. Bessemer Group Inc. lifted its holdings in 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 acquiring an additional 346 shares during the period. Finally, SVB Wealth LLC purchased a new position in Exponent in the first quarter worth about $80,000. Institutional investors own 92.37% of the company's stock.

Insider Buying and Selling at Exponent

In other news, CEO Catherine Corrigan sold 4,905 shares of the firm's stock in a transaction dated 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 owned 82,753 shares of the company's stock, valued at $5,785,262.23. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Sala sold 1,595 shares of Exponent stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $70.64, for a total value of $112,670.80. The disclosure for this sale can be found here. Insiders sold a total of 11,396 shares of company stock valued at $803,636 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Exponent Stock Up 0.5%

NASDAQ EXPO opened at $69.31 on Friday. The company has a 50-day moving average price of $70.71 and a 200-day moving average price of $75.36. Exponent, Inc. has a 52 week low of $63.81 and a 52 week high of $115.75. The firm has a market capitalization of $3.50 billion, a P/E ratio of 34.66 and a beta of 0.94.

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

Exponent Dividend Announcement

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

Exponent Company 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.

Want to see what other hedge funds are holding EXPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exponent, Inc. (NASDAQ:EXPO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.