Rhumbline Advisers Sells 14,810 Shares of Exponent, Inc. (EXPO)

Rhumbline Advisers lowered its position in Exponent, Inc. (NASDAQ:EXPO) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,894 shares of the business services provider’s stock after selling 14,810 shares during the quarter. Rhumbline Advisers owned approximately 0.25% of Exponent worth $7,070,000 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. Principal Financial Group Inc. grew its stake in Exponent by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 207,024 shares of the business services provider’s stock valued at $16,282,000 after acquiring an additional 4,633 shares during the period. Bank of Montreal Can acquired a new stake in Exponent in the 2nd quarter valued at $341,000. Amalgamated Bank grew its stake in Exponent by 127.3% in the 2nd quarter. Amalgamated Bank now owns 8,401 shares of the business services provider’s stock valued at $406,000 after acquiring an additional 4,705 shares during the period. Texas Permanent School Fund grew its stake in Exponent by 96.8% in the 2nd quarter. Texas Permanent School Fund now owns 33,567 shares of the business services provider’s stock valued at $1,621,000 after acquiring an additional 16,508 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in Exponent in the 2nd quarter valued at $478,000. Hedge funds and other institutional investors own 88.13% of the company’s stock.

Shares of EXPO opened at $50.27 on Tuesday. Exponent, Inc. has a 52-week low of $34.90 and a 52-week high of $54.58. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 46.98 and a beta of 0.61.

Exponent (NASDAQ:EXPO) last announced its earnings results on Thursday, October 18th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Exponent had a net margin of 13.98% and a return on equity of 20.92%. The company had revenue of $88.71 million for the quarter, compared to analysts’ expectations of $88.52 million. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that Exponent, Inc. will post 1.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.52 annualized dividend and a yield of 1.03%. Exponent’s dividend payout ratio (DPR) is presently 48.60%.

A number of equities research analysts recently issued reports on EXPO shares. BidaskClub raised shares of Exponent from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Zacks Investment Research raised shares of Exponent from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Monday, October 22nd. Finally, Berenberg Bank started coverage on shares of Exponent in a research note on Wednesday, September 12th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $45.00.

In other Exponent news, insider Harri Kytomaa sold 7,000 shares of Exponent stock in a transaction on Friday, October 26th. The shares were sold at an average price of $49.00, for a total transaction of $343,000.00. Following the sale, the insider now owns 13,090 shares of the company’s stock, valued at approximately $641,410. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

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Exponent Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company worldwide. Its services include analysis of product development, product recall, regulatory compliance, and the discovery of potential problems related to products, people, property, and impending litigation.

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Institutional Ownership by Quarter for Exponent (NASDAQ:EXPO)

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