Exponent, Inc. (NASDAQ:EXPO) Shares Acquired by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C grew its holdings in Exponent, Inc. (NASDAQ:EXPO) by 211.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,641 shares of the business services provider’s stock after buying an additional 5,867 shares during the period. Deerfield Management Company L.P. Series C’s holdings in Exponent were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EXPO. Norges Bank acquired a new stake in shares of Exponent in the fourth quarter valued at about $45,786,000. UBS Group AG raised its position in shares of Exponent by 41.4% in the fourth quarter. UBS Group AG now owns 76,565 shares of the business services provider’s stock valued at $6,741,000 after buying an additional 22,410 shares during the last quarter. US Bancorp DE raised its position in shares of Exponent by 3.2% in the fourth quarter. US Bancorp DE now owns 17,561 shares of the business services provider’s stock valued at $1,547,000 after buying an additional 549 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Exponent by 12.4% in the fourth quarter. Parallel Advisors LLC now owns 1,941 shares of the business services provider’s stock valued at $171,000 after buying an additional 214 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Exponent in the fourth quarter valued at about $219,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Exponent Price Performance

Shares of EXPO stock opened at $112.61 on Friday. The firm has a market cap of $5.71 billion, a PE ratio of 56.87 and a beta of 0.66. The company has a 50-day moving average of $106.03 and a two-hundred day moving average of $95.45. Exponent, Inc. has a 1-year low of $64.61 and a 1-year high of $114.33.

Exponent (NASDAQ:EXPO) last announced its earnings results on Thursday, July 25th. The business services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Exponent had a net margin of 19.35% and a return on equity of 28.39%. The company had revenue of $132.43 million during the quarter, compared to analyst estimates of $130.83 million. During the same quarter last year, the firm posted $0.50 earnings per share. Exponent’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Exponent, Inc. will post 2.04 EPS for the current fiscal year.

Exponent Dividend Announcement

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 $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, September 6th. Exponent’s payout ratio is 56.57%.

Insider Activity

In other news, VP John Pye sold 3,956 shares of the firm’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 owns 28,422 shares of the company’s stock, valued at $2,984,310. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.