Vest Financial LLC Grows Stock Position in Exponent, Inc. $EXPO

Vest Financial LLC boosted its holdings in Exponent, Inc. (NASDAQ:EXPO) by 157.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,813 shares of the business services provider’s stock after buying an additional 22,503 shares during the period. Vest Financial LLC owned 0.07% of Exponent worth $2,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. United Services Automobile Association acquired a new stake in shares of Exponent in the first quarter worth approximately $270,000. Jane Street Group LLC raised its stake in Exponent by 1,481.0% during the first quarter. Jane Street Group LLC now owns 127,222 shares of the business services provider’s stock worth $10,313,000 after purchasing an additional 119,175 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of Exponent by 6.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 122,694 shares of the business services provider’s stock valued at $9,166,000 after purchasing an additional 7,600 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Exponent during the 2nd quarter valued at $167,000. Finally, Fenimore Asset Management Inc increased its holdings in shares of Exponent by 0.3% during the 2nd quarter. Fenimore Asset Management Inc now owns 191,483 shares of the business services provider’s stock worth $14,306,000 after buying an additional 588 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Activity at Exponent

In other news, CEO Catherine Corrigan sold 4,900 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $70.39, for a total value of $344,911.00. Following the completion of the transaction, the chief executive officer directly owned 83,429 shares in the company, valued at approximately $5,872,567.31. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 9,788 shares of company stock worth $693,648 over the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group reiterated a “neutral” rating and issued a $81.00 target price (up previously from $76.00) on shares of Exponent in a report on Monday, December 15th. William Blair raised Exponent from a “market perform” rating to an “outperform” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Exponent in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Exponent presently has an average rating of “Hold” and a consensus target price of $81.00.

Exponent Price Performance

NASDAQ:EXPO opened at $75.51 on Friday. The business’s 50-day moving average is $72.40 and its two-hundred day moving average is $71.05. The firm has a market capitalization of $3.77 billion, a PE ratio of 36.83 and a beta of 0.81. Exponent, Inc. has a 12 month low of $63.81 and a 12 month high of $97.57.

Exponent (NASDAQ:EXPO) last posted its earnings results on Thursday, October 30th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $147.12 million during the quarter, compared to analyst estimates of $131.78 million. Exponent had a return on equity of 24.77% and a net margin of 18.35%.The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Equities analysts anticipate that Exponent, Inc. will post 1.98 EPS for the current year.

Exponent announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 30th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Exponent Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Exponent’s dividend payout ratio (DPR) is currently 58.54%.

Exponent Profile

Exponent, Inc (NASDAQ: EXPO) is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company’s expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.

Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.