Point72 DIFC Ltd Takes Position in Exponent, Inc. (NASDAQ:EXPO)

Point72 DIFC Ltd purchased a new stake in shares of Exponent, Inc. (NASDAQ:EXPO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,110 shares of the business services provider’s stock, valued at approximately $201,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Exponent by 5.8% in the first quarter. Vanguard Group Inc. now owns 5,286,652 shares of the business services provider’s stock valued at $437,153,000 after acquiring an additional 291,047 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Exponent by 6.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,640,600 shares of the business services provider’s stock valued at $441,414,000 after purchasing an additional 284,179 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Exponent by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,763,260 shares of the business services provider’s stock worth $262,841,000 after buying an additional 75,909 shares during the period. Dimensional Fund Advisors LP grew its holdings in Exponent by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,019,085 shares of the business services provider’s stock valued at $96,937,000 after purchasing an additional 6,108 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Exponent by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 534,520 shares of the business services provider’s stock valued at $50,844,000 after buying an additional 17,849 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Exponent Stock Performance

Shares of EXPO opened at $113.25 on Friday. Exponent, Inc. has a 52 week low of $64.61 and a 52 week high of $114.67. The firm has a market cap of $5.74 billion, a P/E ratio of 57.20 and a beta of 0.66. The firm’s 50-day simple moving average is $106.22 and its 200 day simple moving average is $95.69.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Exponent had a return on equity of 28.39% and a net margin of 19.35%. The business had revenue of $132.43 million during the quarter, compared to analysts’ expectations of $130.83 million. During the same period in the previous year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Exponent, Inc. will post 2.04 earnings per share for the current year.

Exponent Dividend Announcement

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

Insider Activity at Exponent

In other news, VP John Pye sold 3,956 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $105.00, for a total value of $415,380.00. Following the completion of the sale, the vice president now owns 28,422 shares of the company’s stock, valued at $2,984,310. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

About Exponent

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.