Raymond James Financial Inc. Has $47.26 Million Holdings in Exponent, Inc. $EXPO

Key Points

• Raymond James Financial Inc. decreased its holdings in Exponent, Inc. by 5.8%, owning about 582,992 shares valued at approximately $47.26 million following the sale of 35,759 shares.
• Exponent has announced a quarterly dividend of $0.30 per share, which will be paid on September 19th, reflecting a 1.7% dividend yield.
• Exponent reported a 7.3% increase in quarterly revenue year-over-year, with an earnings per share of $0.52, surpassing analysts' expectations.

Raymond James Financial Inc. reduced its position in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,992 shares of the business services provider's stock after selling 35,759 shares during the period. Raymond James Financial Inc. owned about 1.15% of Exponent worth $47,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of Exponent by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 441,646 shares of the business services provider's stock worth $35,800,000 after purchasing an additional 8,501 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Exponent during the first quarter worth about $547,000. Bessemer Group Inc. grew its holdings 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 worth $55,000 after purchasing an additional 346 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Exponent in the first quarter worth approximately $665,000. Finally, Fifth Third Bancorp lifted its stake in shares of Exponent by 14.4% in the first quarter. Fifth Third Bancorp now owns 6,835 shares of the business services provider's stock worth $554,000 after acquiring an additional 858 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Catherine Corrigan sold 4,896 shares of Exponent stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $71.09, for a total value of $348,056.64. Following the transaction, the chief executive officer directly owned 81,342 shares of the company's stock, valued at $5,782,602.78. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Sala sold 1,595 shares of Exponent stock in a transaction that occurred on Tuesday, August 12th. The stock was 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. 1.60% of the stock is owned by insiders.

Exponent Price Performance

Shares of Exponent stock traded up $1.25 during midday trading on Wednesday, reaching $72.98. The company had a trading volume of 666,916 shares, compared to its average volume of 447,439. The stock has a fifty day moving average price of $72.65 and a 200 day moving average price of $77.67. The firm has a market cap of $3.69 billion, a PE ratio of 36.49 and a beta of 0.89. Exponent, Inc. has a fifty-two week low of $63.81 and a fifty-two week high of $115.75.

Exponent (NASDAQ:EXPO - Get Free Report) last posted 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 company had revenue of $132.87 million for the quarter, compared to analyst estimates of $130.82 million. Exponent had a return on equity of 24.19% and a net margin of 18.35%.The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. As a group, sell-side analysts forecast that Exponent, Inc. will post 1.98 EPS for the current year.

Exponent Dividend Announcement

The business 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 5th. Exponent's payout ratio is currently 60.00%.

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.