Riverbridge Partners LLC Sells 57,365 Shares of Exponent, Inc. (NASDAQ:EXPO)

Riverbridge Partners LLC reduced its position in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 8.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 595,350 shares of the business services provider's stock after selling 57,365 shares during the quarter. Riverbridge Partners LLC owned 1.17% of Exponent worth $48,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXPO. Raymond James Financial Inc. purchased a new position in shares of Exponent in the 4th quarter worth about $55,131,000. Norges Bank purchased a new position in shares of Exponent in the 4th quarter worth about $52,381,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Exponent in the 4th quarter worth about $38,538,000. BLI Banque de Luxembourg Investments purchased a new position in shares of Exponent in the 4th quarter worth about $12,564,000. Finally, Barclays PLC boosted its holdings in shares of Exponent by 88.5% in the 4th quarter. Barclays PLC now owns 181,921 shares of the business services provider's stock worth $16,209,000 after purchasing an additional 85,395 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Exponent Trading Up 1.2%

Shares of EXPO traded up $0.87 during midday trading on Monday, reaching $73.75. The stock had a trading volume of 258,132 shares, compared to its average volume of 255,605. The company's 50-day moving average is $77.36 and its 200 day moving average is $83.66. Exponent, Inc. has a 12-month low of $72.54 and a 12-month high of $115.75. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 35.98 and a beta of 0.92.

Exponent (NASDAQ:EXPO - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $137.44 million during the quarter, compared to analysts' expectations of $134.63 million. Exponent had a return on equity of 25.33% and a net margin of 18.87%. Exponent's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. Research analysts forecast that Exponent, Inc. will post 1.98 EPS for the current fiscal year.

Exponent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, June 6th. Exponent's dividend payout ratio is presently 58.54%.

Insider Activity at Exponent

In related news, VP Bradley A. James sold 2,694 shares of the 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Rakow sold 1,573 shares of the stock in a transaction that occurred on 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 6,267 shares of company stock worth $489,120 in the last ninety days. 1.60% of the stock is owned by company 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.