Assenagon Asset Management S.A. Makes New $2.31 Million Investment in Exponent, Inc. $EXPO

Key Points

• Assenagon Asset Management initiated a roughly $2.31 million position in Exponent, purchasing 39,342 shares. Institutional investors and hedge funds collectively own 92.37% of the company.
• Exponent exceeded quarterly expectations, reporting $0.60 in earnings per share on $171.61 million in revenue, with revenue rising 12% year over year.
• The company declared a quarterly dividend of $0.31 per share, equivalent to a $1.24 annualized payout and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $81.

Assenagon Asset Management S.A. bought a new position in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,342 shares of the business services provider's stock, valued at approximately $2,312,000. Assenagon Asset Management S.A. owned about 0.08% of Exponent as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bell Investment Advisors Inc increased its position in Exponent by 423.6% in the 1st quarter. Bell Investment Advisors Inc now owns 377 shares of the business services provider's stock valued at $25,000 after acquiring an additional 305 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Exponent by 86.1% in the fourth quarter. Allworth Financial LP now owns 469 shares of the business services provider's stock valued at $33,000 after purchasing an additional 217 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Exponent by 37.1% in the first quarter. Bessemer Group Inc. now owns 717 shares of the business services provider's stock valued at $47,000 after purchasing an additional 194 shares in the last quarter. Hantz Financial Services Inc. raised its position in Exponent by 129.0% in the 4th quarter. Hantz Financial Services Inc. now owns 907 shares of the business services provider's stock worth $63,000 after purchasing an additional 511 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Exponent by 54.8% in the 4th quarter. UMB Bank n.a. now owns 904 shares of the business services provider's stock worth $63,000 after purchasing an additional 320 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Exponent Stock Up 0.8%

NASDAQ:EXPO opened at $68.21 on Friday. Exponent, Inc. has a 12-month low of $51.91 and a 12-month high of $81.95. The firm has a market capitalization of $3.24 billion, a P/E ratio of 30.59 and a beta of 0.68. The stock's fifty day simple moving average is $61.64 and its 200-day simple moving average is $64.75.

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, topping analysts' consensus estimates of $0.55 by $0.05. The business had revenue of $171.61 million during the quarter, compared to analysts' expectations of $144.99 million. Exponent had a return on equity of 31.48% and a net margin of 17.67%.The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, equities research analysts expect that Exponent, Inc. will post 2.31 earnings per share for the current year.

Exponent Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.24 annualized dividend and a yield of 1.8%. Exponent's dividend payout ratio (DPR) is presently 55.61%.

Insider Activity at Exponent

In related news, CEO Catherine Corrigan sold 4,119 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $57.13, for a total transaction of $235,318.47. Following the completion of the transaction, the chief executive officer owned 106,670 shares in the company, valued at approximately $6,094,057.10. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Bradley A. James sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $57.47, for a total transaction of $114,940.00. Following the transaction, the vice president owned 1,105 shares of the company's stock, valued at approximately $63,504.35. This represents a 64.41% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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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