Algert Global LLC Sells 104,110 Shares of Exponent, Inc. $EXPO

Key Points

• Algert Global cut its Exponent stake by 69.8% in the second quarter, selling 104,110 shares and retaining 45,120 shares worth about $2.65 million. Institutional investors still own 92.37% of the company.
• Exponent reported quarterly EPS of $0.60, exceeding estimates of $0.55, while revenue rose 12% year over year to $171.61 million. Analysts’ consensus view is “Moderate Buy,” with an average price target of $81.
• Exponent announced a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.7% yield; the dividend is payable September 18 to shareholders of record September 4.

Algert Global LLC decreased its position in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 69.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,120 shares of the business services provider's stock after selling 104,110 shares during the period. Algert Global LLC owned approximately 0.09% of Exponent worth $2,651,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EXPO. Northwestern Mutual Wealth Management Co. boosted its holdings in Exponent by 87,479.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 230,335 shares of the business services provider's stock valued at $15,999,000 after acquiring an additional 230,072 shares during the last quarter. UBS Group AG lifted its position in shares of Exponent by 29.7% in the 4th quarter. UBS Group AG now owns 176,404 shares of the business services provider's stock worth $12,253,000 after purchasing an additional 40,359 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of Exponent by 1.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,392,499 shares of the business services provider's stock worth $166,183,000 after purchasing an additional 31,303 shares during the period. Quantinno Capital Management LP lifted its position in shares of Exponent by 114.3% in the 1st quarter. Quantinno Capital Management LP now owns 36,614 shares of the business services provider's stock worth $2,389,000 after purchasing an additional 19,528 shares during the period. Finally, New Age Alpha Advisors LLC boosted its stake in shares of Exponent by 785.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 24,775 shares of the business services provider's stock valued at $1,721,000 after purchasing an additional 21,978 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

Insider Buying and Selling at Exponent

In other Exponent news, CEO Catherine Corrigan sold 1,707 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $66.28, for a total transaction of $113,139.96. Following the completion of the sale, the chief executive officer directly owned 129,108 shares of the company's stock, valued at approximately $8,557,278.24. The trade was a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Exponent from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. UBS Group set a $72.00 price objective on Exponent and gave the company a "neutral" rating in a research note on Friday, July 31st. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Exponent in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $81.00.

Exponent Stock Performance

EXPO stock opened at $71.53 on Friday. The stock's 50 day simple moving average is $64.33 and its 200 day simple moving average is $64.53. Exponent, Inc. has a fifty-two week low of $51.91 and a fifty-two week high of $81.95. The company has a market cap of $3.40 billion, a P/E ratio of 32.08 and a beta of 0.68.

Exponent (NASDAQ:EXPO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. Exponent had a return on equity of 31.48% and a net margin of 17.67%.The firm had revenue of $171.61 million during the quarter, compared to analysts' expectations of $144.99 million. During the same quarter last year, the firm posted $0.52 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts predict that Exponent, Inc. will post 2.31 earnings per share for the current year.

Exponent Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 4th. Exponent's dividend payout ratio is currently 55.61%.

Exponent Profile

Exponent, Inc NASDAQ: EXPO is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company's expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.

Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.

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