Point72 Asia Singapore Pte. Ltd. Acquires New Shares in Exponent, Inc. (NASDAQ:EXPO)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Exponent, Inc. (NASDAQ:EXPO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,540 shares of the business services provider’s stock, valued at approximately $146,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Exponent during the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in Exponent by 67.7% in the second quarter. GAMMA Investing LLC now owns 379 shares of the business services provider’s stock valued at $36,000 after buying an additional 153 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Exponent by 866.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the business services provider’s stock valued at $42,000 after buying an additional 459 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Exponent by 166.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 517 shares of the business services provider’s stock valued at $49,000 after buying an additional 323 shares during the period. Finally, Janiczek Wealth Management LLC increased its position in shares of Exponent by 293.7% during the first quarter. Janiczek Wealth Management LLC now owns 626 shares of the business services provider’s stock worth $52,000 after acquiring an additional 467 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Truist Financial reaffirmed a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Exponent in a research note on Friday, July 26th.

Exponent Stock Performance

Shares of Exponent stock opened at $113.56 on Friday. The firm has a market cap of $5.76 billion, a PE ratio of 57.35 and a beta of 0.66. The business’s 50 day simple moving average is $106.72 and its 200 day simple moving average is $96.55. Exponent, Inc. has a 52-week low of $64.61 and a 52-week high of $115.61.

Exponent (NASDAQ:EXPO) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Exponent had a net margin of 19.35% and a return on equity of 28.39%. The business had revenue of $132.43 million for the quarter, compared to analyst estimates of $130.83 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Exponent, Inc. will post 2.04 EPS for the current year.

Exponent Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.99%. Exponent’s dividend payout ratio is 56.57%.

Insider Activity

In related news, VP John Pye sold 3,956 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $105.00, for a total transaction of $415,380.00. Following the completion of the transaction, the vice president now directly owns 28,422 shares of the company’s stock, valued at $2,984,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.

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.