Espey Mfg. & Electronics (NYSEAMERICAN:ESP) CEO Sells 2,500 Shares of Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) CEO David Oneil sold 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $67.71, for a total transaction of $169,275.00. Following the transaction, the chief executive officer owned 13,750 shares in the company, valued at approximately $931,012.50. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Espey Mfg. & Electronics Trading Down 1.6%

ESP stock traded down $1.10 during mid-day trading on Tuesday, hitting $66.00. The stock had a trading volume of 26,884 shares, compared to its average volume of 27,288. The stock has a market capitalization of $198 million, a price-to-earnings ratio of 17.41 and a beta of 0.36. The company has a fifty day moving average of $63.37 and a 200 day moving average of $56.20. Espey Mfg. & Electronics Corp. has a 1-year low of $36.00 and a 1-year high of $74.77.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.11. The firm had revenue of $11.42 million for the quarter, compared to analyst estimates of $13.20 million. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%.

Espey Mfg. & Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.82%.

Hedge Funds Weigh In On Espey Mfg. & Electronics

A number of institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its stake in shares of Espey Mfg. & Electronics by 6.3% in the fourth quarter. First Trust Advisors LP now owns 6,866 shares of the company’s stock worth $324,000 after buying an additional 404 shares during the last quarter. XTX Topco Ltd grew its stake in Espey Mfg. & Electronics by 12.7% in the 4th quarter. XTX Topco Ltd now owns 5,871 shares of the company’s stock valued at $277,000 after buying an additional 660 shares during the last quarter. Geode Capital Management LLC raised its holdings in Espey Mfg. & Electronics by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,692 shares of the company’s stock worth $1,165,000 after acquiring an additional 745 shares during the period. Hillsdale Investment Management Inc. lifted its position in Espey Mfg. & Electronics by 11.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 8,100 shares of the company’s stock worth $321,000 after acquiring an additional 800 shares during the last quarter. Finally, Man Group plc lifted its position in Espey Mfg. & Electronics by 14.4% during the 4th quarter. Man Group plc now owns 6,538 shares of the company’s stock worth $308,000 after acquiring an additional 824 shares during the last quarter. Institutional investors own 36.65% of the company’s stock.

Analyst Ratings Changes

Separately, Freedom Capital cut Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

About Espey Mfg. & Electronics

Espey Manufacturing & Electronics Corp., founded in 1961 and headquartered in Lowell, Massachusetts, specializes in the design, development and manufacture of precision electronic components and sensor systems. The company’s core product offerings include magnetostrictive transducers, torque and position sensors, wideband RF and microwave amplifiers, as well as high-reliability printed circuit boards and molded bus assemblies. These solutions are engineered to withstand harsh operating environments and meet stringent performance requirements.

Espey’s sensor technologies are employed in applications ranging from industrial automation and energy production to commercial and military aerospace platforms.