MetLife Investment Management LLC Buys 661 Shares of Exponent, Inc. (NASDAQ:EXPO)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC raised its stake in shares of Exponent, Inc. (NASDAQ:EXPO – Get Rating) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,398 shares of the business services provider’s stock after acquiring an additional 661 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Exponent worth $2,402,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James & Associates increased its position in Exponent by 112.4% in the third quarter. Raymond James & Associates now owns 438,132 shares of the business services provider’s stock worth $38,411,000 after purchasing an additional 231,882 shares during the period. Millennium Management LLC grew its position in shares of Exponent by 86.6% during the 2nd quarter. Millennium Management LLC now owns 379,297 shares of the business services provider’s stock worth $34,694,000 after buying an additional 176,062 shares during the period. Wells Fargo & Company MN grew its position in shares of Exponent by 30.4% during the 2nd quarter. Wells Fargo & Company MN now owns 753,957 shares of the business services provider’s stock worth $68,964,000 after buying an additional 175,563 shares during the period. Renaissance Technologies LLC grew its position in shares of Exponent by 541.1% during the 2nd quarter. Renaissance Technologies LLC now owns 194,900 shares of the business services provider’s stock worth $17,828,000 after buying an additional 164,500 shares during the period. Finally, Citadel Advisors LLC grew its position in shares of Exponent by 550.2% during the 2nd quarter. Citadel Advisors LLC now owns 172,567 shares of the business services provider’s stock worth $15,785,000 after buying an additional 146,028 shares during the period. 91.32% of the stock is owned by institutional investors.

Exponent Price Performance

NASDAQ:EXPO opened at $103.63 on Friday. Exponent, Inc. has a fifty-two week low of $80.97 and a fifty-two week high of $112.75. The stock has a market capitalization of $5.25 billion, a PE ratio of 52.87 and a beta of 0.63. The business’s 50-day simple moving average is $102.39 and its 200-day simple moving average is $98.26.

Exponent (NASDAQ:EXPO – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The business services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. Exponent had a return on equity of 30.00% and a net margin of 19.94%. The business had revenue of $112.59 million for the quarter, compared to analysts’ expectations of $111.47 million. During the same quarter in the previous year, the business posted $0.38 EPS. Exponent’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts expect that Exponent, Inc. will post 2.08 earnings per share for the current year.

Exponent Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a $0.26 dividend. This is a boost from Exponent’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.04 annualized dividend and a yield of 1.00%. Exponent’s payout ratio is presently 48.98%.

Analyst Upgrades and Downgrades

Separately, William Blair restated a “market perform” rating on shares of Exponent in a research report on Tuesday, November 1st.

Insider Buying and Selling at Exponent

In other Exponent news, VP Harri Kytomaa sold 350 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $103.24, for a total value of $36,134.00. Following the sale, the vice president now owns 12,064 shares in the company, valued at approximately $1,245,487.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Harri Kytomaa sold 350 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $103.24, for a total transaction of $36,134.00. Following the sale, the vice president now owns 12,064 shares in the company, valued at approximately $1,245,487.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carol Lindstrom sold 1,875 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $106.59, for a total value of $199,856.25. Following the transaction, the director now directly owns 4,847 shares in the company, valued at $516,641.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,275 shares of company stock worth $455,120. Corporate insiders own 2.00% of the company’s stock.

Exponent Company Profile

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Exponent, Inc is an engineering and scientific consulting company, which engages in the provision of engineering, scientific, environmental, and health consulting services. It operates through the following segments: Engineering and Other Scientific and Environmental and Health. The Engineering and Other Scientific segment include technical consulting in different practices primarily in engineering.

Institutional Ownership by Quarter for Exponent (NASDAQ:EXPO)

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