State of Michigan Retirement System Decreases Stock Holdings in Exponent, Inc. (NASDAQ:EXPO)

State of Michigan Retirement System lowered its position in Exponent, Inc. (NASDAQ:EXPO) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,200 shares of the business services provider’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Exponent were worth $1,160,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EXPO. GAMMA Investing LLC increased its position in shares of Exponent by 67.7% during the second quarter. GAMMA Investing LLC now owns 379 shares of the business services provider’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Exponent by 866.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the business services provider’s stock worth $42,000 after buying an additional 459 shares during the last quarter. Janiczek Wealth Management LLC increased its position in Exponent by 293.7% during the 1st quarter. Janiczek Wealth Management LLC now owns 626 shares of the business services provider’s stock valued at $52,000 after buying an additional 467 shares in the last quarter. Principal Securities Inc. purchased a new stake in Exponent in the fourth quarter valued at about $69,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Exponent in the first quarter worth about $75,000. Institutional investors own 92.37% of the company’s stock.

Exponent Trading Up 1.4 %

NASDAQ:EXPO opened at $107.24 on Friday. The company has a market capitalization of $5.44 billion, a P/E ratio of 54.16 and a beta of 0.65. Exponent, Inc. has a 12 month low of $64.61 and a 12 month high of $108.80. The firm has a fifty day simple moving average of $101.65 and a 200-day simple moving average of $91.39.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings results 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. The company had revenue of $132.43 million during the quarter, compared to analysts’ expectations of $130.83 million. Exponent had a return on equity of 28.39% and a net margin of 19.35%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities analysts forecast that Exponent, Inc. will post 2.04 EPS for the current year.

Exponent Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.12 annualized dividend and a yield of 1.04%. Exponent’s dividend payout ratio (DPR) is presently 56.57%.

Analysts Set New Price Targets

Separately, Truist Financial restated a “buy” rating and set a $120.00 price objective (up previously from $100.00) on shares of Exponent in a report on Friday, July 26th.

Insiders Place Their Bets

In other news, VP John Pye sold 3,956 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $105.00, for a total value of $415,380.00. Following the sale, the vice president now directly owns 28,422 shares of the company’s stock, valued at approximately $2,984,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Paul R. Johnston sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $95.50, for a total transaction of $668,500.00. Following the sale, the director now directly owns 80,742 shares of the company’s stock, valued at $7,710,861. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John Pye sold 3,956 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $105.00, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 31,956 shares of company stock valued at $3,063,900. 2.10% of the stock is owned by insiders.

Exponent 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.