Dimensional Fund Advisors Reports 5.4% Passive Stake In Expro, 13G Filing Says
The fund manager lists 6,089,754 shares held through funds it advises, and certifies it is not seeking control.
Dimensional Fund Advisors LP reported a 5.4% stake in Expro, or 6,089,754 shares, in a passive ownership filing (Schedule 13G) filed Thursday. The filing dates the position to September 30.
What the filing says
The Austin-based adviser reports sole voting power over 5,990,830 of the shares and shared voting power over none. The filing marks it as an investment adviser.
Dimensional certifies that the shares were acquired and are held in the ordinary course of business, not to change or influence control of Expro. A 13G is the lighter-touch form used by holders who are not pursuing control, as opposed to an activist filing.
Expro shares rose 4.69% to $16.28 from a prior close of $15.55 in Thursday trading as of 2:36 p.m. ET (market data), for a market value of $1.7 billion. The filing does not link the stock move to the stake.
Who actually holds the shares
Dimensional says the shares are owned by funds it advises, not by Dimensional itself, and it disclaims beneficial ownership of them. It furnishes advice to four registered investment companies, and also manages other commingled funds, group trusts and separate accounts.
The filing says that, to Dimensional's knowledge, the interest of any single one of those funds does not exceed 5% of Expro's common stock. Those funds have the right to receive dividends and sale proceeds from the shares.
The filing lists Expro's address as 1311 Broadfield Blvd in Houston and carries no stated plan beyond the passive certification.
