Bank of New York Mellon Corp Grows Stake in Exponent, Inc. (NASDAQ:EXPO)

Posted by Defense World Staff on Mar 11th, 2023

Bank of New York Mellon Corp lifted its stake in shares of Exponent, Inc. (NASDAQ:EXPO – Get Rating) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 581,140 shares of the business services provider’s stock after purchasing an additional 8,733 shares during the period. Bank of New York Mellon Corp owned about 1.15% of Exponent worth $50,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Exponent by 0.8% during the second quarter. State Street Corp now owns 1,698,021 shares of the business services provider’s stock worth $155,318,000 after purchasing an additional 12,804 shares in the last quarter. Geneva Capital Management LLC grew its stake in Exponent by 4.0% during the 3rd quarter. Geneva Capital Management LLC now owns 1,394,439 shares of the business services provider’s stock valued at $122,250,000 after acquiring an additional 53,718 shares in the last quarter. Riverbridge Partners LLC grew its stake in Exponent by 9.7% during the 3rd quarter. Riverbridge Partners LLC now owns 1,094,506 shares of the business services provider’s stock valued at $95,955,000 after acquiring an additional 96,465 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Exponent by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,026,295 shares of the business services provider’s stock valued at $89,978,000 after acquiring an additional 12,952 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Exponent by 30.4% during the 2nd quarter. Wells Fargo & Company MN now owns 753,957 shares of the business services provider’s stock valued at $68,964,000 after acquiring an additional 175,563 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Exponent Trading Down 1.9 %

Shares of NASDAQ EXPO opened at $100.02 on Friday. Exponent, Inc. has a 12-month low of $80.97 and a 12-month high of $112.75. The stock has a market cap of $5.07 billion, a PE ratio of 51.03 and a beta of 0.65. The company has a 50-day moving average of $103.10 and a 200 day moving average of $98.38.

Exponent (NASDAQ:EXPO – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Exponent had a net margin of 19.94% and a return on equity of 30.00%. The company had revenue of $112.59 million during the quarter, compared to analysts’ expectations of $111.47 million. During the same quarter in the prior year, the company earned $0.38 EPS. Exponent’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Exponent, Inc. will post 2.08 EPS for the current fiscal 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.04%. This is a positive change from Exponent’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, March 9th. Exponent’s payout ratio is presently 48.98%.

Insider Buying and Selling at Exponent

In other Exponent news, VP Harri Kytomaa sold 350 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $108.00, for a total value of $37,800.00. Following the transaction, the vice president now directly owns 12,414 shares in the company, valued at approximately $1,340,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exponent news, VP Harri Kytomaa sold 350 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $108.00, for a total value of $37,800.00. Following the transaction, the vice president now directly owns 12,414 shares in the company, valued at approximately $1,340,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carol Lindstrom sold 1,875 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $106.59, for a total transaction of $199,856.25. Following the completion of the transaction, the director now owns 4,847 shares in the company, valued at $516,641.73. The disclosure for this sale can be found here. Insiders have sold 4,275 shares of company stock worth $455,120 in the last ninety days. 2.00% of the stock is owned by insiders.

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 Engineering and Other Scientific, and Environmental and Health segments. The Engineering and Other Scientific segment includes technical consulting in different practices primarily in engineering.