Comerica Bank Trims Holdings in Exponent, Inc. (EXPO)
Comerica Bank reduced its stake in Exponent, Inc. (NASDAQ:EXPO) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,495 shares of the business services provider’s stock after selling 2,781 shares during the period. Comerica Bank’s holdings in Exponent were worth $4,658,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio bought a new stake in Exponent in the 2nd quarter valued at $101,000. Fort L.P. bought a new stake in Exponent in the 2nd quarter valued at $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Exponent by 100.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,952 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 1,476 shares during the last quarter. KBC Group NV bought a new stake in Exponent in the 2nd quarter valued at $150,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Exponent by 2,500.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,250 shares of the business services provider’s stock valued at $157,000 after acquiring an additional 3,125 shares during the last quarter. Institutional investors own 89.74% of the company’s stock.
In related news, VP Harri Kytomaa sold 3,000 shares of Exponent stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $51.50, for a total transaction of $154,500.00. Following the completion of the transaction, the vice president now directly owns 6,090 shares of the company’s stock, valued at approximately $313,635. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.
Exponent (NASDAQ:EXPO) last posted its earnings results on Thursday, October 18th. The business services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Exponent had a net margin of 13.98% and a return on equity of 20.92%. The firm had revenue of $88.71 million for the quarter, compared to the consensus estimate of $88.52 million. During the same period in the previous year, the firm posted $0.27 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts anticipate that Exponent, Inc. will post 1.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a $0.13 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. Exponent’s dividend payout ratio (DPR) is presently 48.60%.
EXPO has been the topic of a number of research reports. BidaskClub upgraded shares of Exponent from a “buy” rating to a “strong-buy” rating in a report on Friday, September 7th. Zacks Investment Research upgraded shares of Exponent from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. SunTrust Banks boosted their target price on shares of Exponent to $56.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Finally, Berenberg Bank initiated coverage on shares of Exponent in a report on Wednesday, September 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $45.00.
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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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