Exponent, Inc. $EXPO Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its stake in Exponent, Inc. (NASDAQ:EXPO) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 292,539 shares of the business services provider’s stock after selling 6,321 shares during the quarter. TimesSquare Capital Management LLC owned about 0.58% of Exponent worth $21,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXPO. Bessemer Group Inc. boosted its holdings in shares of Exponent by 21.7% in the second quarter. Bessemer Group Inc. now owns 829 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 148 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Exponent by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 8,678 shares of the business services provider’s stock worth $648,000 after buying an additional 175 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Exponent by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 12,200 shares of the business services provider’s stock worth $989,000 after buying an additional 200 shares in the last quarter. Hardy Reed LLC lifted its holdings in shares of Exponent by 5.5% in the first quarter. Hardy Reed LLC now owns 3,850 shares of the business services provider’s stock valued at $312,000 after buying an additional 202 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Exponent by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 62,029 shares of the business services provider’s stock worth $4,634,000 after purchasing an additional 244 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Catherine Corrigan sold 4,930 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $66.82, for a total value of $329,422.60. Following the completion of the sale, the chief executive officer owned 82,753 shares in the company, valued at approximately $5,529,555.46. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Exponent Stock Performance

Shares of NASDAQ EXPO opened at $70.21 on Thursday. The business has a 50 day simple moving average of $69.10 and a 200 day simple moving average of $72.59. Exponent, Inc. has a 52 week low of $63.81 and a 52 week high of $104.38. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 35.11 and a beta of 0.91.

Exponent (NASDAQ:EXPO) last released its quarterly earnings results on Thursday, October 30th. The business services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $147.12 million for the quarter, compared to the consensus estimate of $131.78 million. Exponent had a net margin of 18.35% and a return on equity of 24.19%. Exponent’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. On average, analysts predict that Exponent, Inc. will post 1.98 EPS for the current year.

Exponent declared that its Board of Directors has approved a stock repurchase program on Thursday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Exponent Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Exponent’s dividend payout ratio (DPR) is 58.54%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Exponent in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Exponent Company Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.