Comerica Bank Purchases 6,882 Shares of Exponent (EXPO)

Comerica Bank boosted its position in Exponent (NASDAQ:EXPO) by 16.5% in the first quarter, HoldingsChannel reports. The firm owned 48,697 shares of the business services provider’s stock after acquiring an additional 6,882 shares during the period. Comerica Bank’s holdings in Exponent were worth $4,120,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EXPO. Schwab Charles Investment Management Inc. raised its holdings in Exponent by 8.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 149,465 shares of the business services provider’s stock worth $10,627,000 after purchasing an additional 11,708 shares in the last quarter. GW&K Investment Management LLC raised its holdings in Exponent by 17.9% in the fourth quarter. GW&K Investment Management LLC now owns 496,857 shares of the business services provider’s stock worth $35,327,000 after purchasing an additional 75,277 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Exponent by 13.8% in the fourth quarter. Conestoga Capital Advisors LLC now owns 973,140 shares of the business services provider’s stock worth $69,190,000 after purchasing an additional 118,350 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Exponent in the fourth quarter worth about $4,770,000. Finally, Chicago Equity Partners LLC bought a new position in Exponent in the fourth quarter worth about $670,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Exponent from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 14th. SunTrust Banks boosted their price target on Exponent to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 23rd. Zacks Investment Research upgraded Exponent from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Monday, April 23rd. Cantor Fitzgerald restated a “buy” rating and set a $96.00 price target on shares of Exponent in a research note on Friday, April 20th. Finally, ValuEngine upgraded Exponent from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $95.67.

In other news, President Catherine Corrigan sold 4,449 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $89.53, for a total transaction of $398,318.97. Following the sale, the president now owns 27,189 shares in the company, valued at $2,434,231.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard L. Schlenker, Jr. sold 29,074 shares of the business’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $88.40, for a total value of $2,570,141.60. Following the sale, the chief financial officer now owns 193,363 shares in the company, valued at approximately $17,093,289.20. The disclosure for this sale can be found here. Insiders have sold 37,123 shares of company stock worth $3,290,625 in the last 90 days. Insiders own 2.80% of the company’s stock.

Shares of EXPO stock opened at $93.00 on Friday. Exponent has a fifty-two week low of $92.35 and a fifty-two week high of $92.85. The stock has a market cap of $2.39 billion, a PE ratio of 43.46 and a beta of 0.62.

Exponent shares are scheduled to split on the morning of Friday, June 1st. The 2-1 split was announced on Tuesday, May 15th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, May 31st.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings results on Thursday, April 19th. The business services provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.13. Exponent had a return on equity of 19.47% and a net margin of 12.52%. The business had revenue of $96.50 million for the quarter, compared to analyst estimates of $87.54 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. research analysts forecast that Exponent will post 2.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.12%. Exponent’s payout ratio is 48.60%.

Exponent Company 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.

Want to see what other hedge funds are holding EXPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exponent (NASDAQ:EXPO).

Institutional Ownership by Quarter for Exponent (NASDAQ:EXPO)

Receive News & Ratings for Exponent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exponent and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply