Mirae Asset Global Investments Co. Ltd. grew its stake in Exponent, Inc. (NASDAQ:EXPO) by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,950 shares of the business services provider’s stock after buying an additional 1,900 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Exponent were worth $606,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in EXPO. Bank of New York Mellon Corp lifted its stake in Exponent by 101.5% in the second quarter. Bank of New York Mellon Corp now owns 759,044 shares of the business services provider’s stock valued at $36,662,000 after buying an additional 382,415 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Exponent by 6.7% in the third quarter. Wells Fargo & Company MN now owns 160,484 shares of the business services provider’s stock valued at $8,602,000 after buying an additional 10,086 shares during the last quarter. MML Investors Services LLC purchased a new stake in Exponent in the third quarter valued at approximately $255,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Exponent by 12.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,423 shares of the business services provider’s stock valued at $666,000 after buying an additional 1,421 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Exponent during the third quarter worth approximately $1,624,000. 88.48% of the stock is owned by institutional investors.
Shares of EXPO stock opened at $57.12 on Friday. Exponent, Inc. has a 1-year low of $38.17 and a 1-year high of $58.29. The firm has a market cap of $2.93 billion, a P/E ratio of 45.70 and a beta of 0.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, March 7th. This is a positive change from Exponent’s previous quarterly dividend of $0.13. Exponent’s dividend payout ratio is currently 51.20%.
Several equities research analysts have recently commented on EXPO shares. BidaskClub upgraded Exponent from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 15th. ValuEngine upgraded Exponent from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. Cantor Fitzgerald restated a “buy” rating and set a $56.00 price target on shares of Exponent in a research note on Tuesday, January 15th. Finally, Zacks Investment Research cut Exponent from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.00.
In related news, insider Harri Kytomaa sold 2,366 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $56.27, for a total transaction of $133,134.82. Following the transaction, the insider now owns 3,816 shares of the company’s stock, valued at $214,726.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.
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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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