Municipal Employees Retirement System of Michigan decreased its stake in shares of Exponent, Inc. (NASDAQ:EXPO) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,830 shares of the business services provider’s stock after selling 50 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Exponent were worth $347,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EXPO. Advisory Services Network LLC purchased a new stake in Exponent during the first quarter valued at $123,000. Nationwide Fund Advisors increased its stake in Exponent by 4.8% in the first quarter. Nationwide Fund Advisors now owns 159,560 shares of the business services provider’s stock valued at $9,502,000 after buying an additional 7,296 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Exponent by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,830 shares of the business services provider’s stock valued at $168,000 after buying an additional 20 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Exponent by 7.5% in the first quarter. Conestoga Capital Advisors LLC now owns 628,897 shares of the business services provider’s stock valued at $37,451,000 after buying an additional 43,615 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Exponent by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the business services provider’s stock valued at $619,000 after buying an additional 100 shares during the last quarter. 90.10% of the stock is currently owned by institutional investors.
Exponent, Inc. (NASDAQ:EXPO) traded down 1.00% during mid-day trading on Friday, reaching $64.55. The company’s stock had a trading volume of 77,124 shares. Exponent, Inc. has a one year low of $48.42 and a one year high of $68.30. The firm has a market cap of $1.71 billion, a PE ratio of 33.46 and a beta of 0.60. The stock’s 50 day moving average is $60.12 and its 200 day moving average is $59.32.
Exponent (NASDAQ:EXPO) last posted its earnings results on Tuesday, July 18th. The business services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.10. Exponent had a return on equity of 16.52% and a net margin of 15.94%. The business had revenue of $84.10 million for the quarter, compared to analysts’ expectations of $79.30 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, analysts anticipate that Exponent, Inc. will post $1.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, August 30th. Exponent’s dividend payout ratio (DPR) is currently 43.52%.
Several analysts have weighed in on EXPO shares. Zacks Investment Research upgraded Exponent from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Thursday, June 29th. Cantor Fitzgerald reiterated a “buy” rating and set a $75.00 price target (up previously from $69.00) on shares of Exponent in a research note on Wednesday, July 19th. ValuEngine upgraded Exponent from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, BidaskClub downgraded Exponent from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th.
In related news, insider John Pye sold 3,600 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $65.08, for a total value of $234,288.00. Following the transaction, the insider now owns 14,767 shares in the company, valued at approximately $961,036.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sally Shepard sold 1,255 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $65.37, for a total value of $82,039.35. Following the completion of the transaction, the insider now owns 1,560 shares in the company, valued at approximately $101,977.20. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
Exponent Company Profile
Exponent, Inc (Exponent), along with its subsidiaries, is a science and engineering consulting company. Exponent provides engineering and scientific consulting services to clients around the world. Its service offerings are provided on a project-by-project basis. It operates in two segments: Engineering and Other Scientific, and Environmental and Health.
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