Arizona State Retirement System Has $3.66 Million Holdings in Exponent, Inc. (EXPO)
Arizona State Retirement System grew its holdings in shares of Exponent, Inc. (NASDAQ:EXPO) by 86.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,670 shares of the business services provider’s stock after buying an additional 34,989 shares during the quarter. Arizona State Retirement System owned approximately 0.15% of Exponent worth $3,655,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Municipal Employees Retirement System of Michigan raised its holdings in shares of Exponent by 6.0% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 10,290 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 580 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Exponent by 5.8% in the 1st quarter. Natixis Advisors L.P. now owns 11,791 shares of the business services provider’s stock valued at $927,000 after purchasing an additional 644 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Exponent by 4.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,617 shares of the business services provider’s stock valued at $1,307,000 after purchasing an additional 774 shares during the period. Prudential Financial Inc. raised its holdings in shares of Exponent by 1.8% in the 1st quarter. Prudential Financial Inc. now owns 46,374 shares of the business services provider’s stock valued at $3,647,000 after purchasing an additional 800 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Exponent by 1.8% in the 1st quarter. Legal & General Group Plc now owns 53,727 shares of the business services provider’s stock valued at $4,218,000 after purchasing an additional 932 shares during the period. 89.72% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on EXPO. ValuEngine raised shares of Exponent from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 5th. Zacks Investment Research cut shares of Exponent from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 20th. Finally, SunTrust Banks upped their target price on shares of Exponent to $56.00 and gave the company a “buy” rating in a report on Friday, July 20th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $34.67.
Exponent (NASDAQ:EXPO) last released its quarterly earnings results on Thursday, July 19th. The business services provider reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The firm had revenue of $95.60 million for the quarter, compared to analysts’ expectations of $89.42 million. Exponent had a net margin of 13.51% and a return on equity of 20.52%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. analysts predict that Exponent, Inc. will post 1.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.52 annualized dividend and a yield of 1.02%. Exponent’s dividend payout ratio is currently 48.60%.
In other Exponent news, insider Richard Reiss sold 2,236 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $49.43, for a total value of $110,525.48. Following the transaction, the insider now directly owns 4,054 shares of the company’s stock, valued at approximately $200,389.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by corporate insiders.
Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company worldwide. Its services include analysis of product development, product recall, regulatory compliance, and the discovery of potential problems related to products, people, property, and impending litigation.
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