Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Insider Sells $157,500.00 in Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) insider Jennifer Michele Pickering sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $63.00, for a total value of $157,500.00. Following the completion of the sale, the insider owned 2,500 shares of the company’s stock, valued at approximately $157,500. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN:ESP opened at $66.06 on Friday. The business’s 50 day simple moving average is $63.65 and its 200 day simple moving average is $56.71. Espey Mfg. & Electronics Corp. has a 1 year low of $36.00 and a 1 year high of $74.77. The company has a market capitalization of $198.18 million, a P/E ratio of 17.43 and a beta of 0.36.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced 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 during the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a return on equity of 20.38% and a net margin of 25.50%.

Espey Mfg. & Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 15th were given a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Espey Mfg. & Electronics by 356.3% during the second quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock worth $56,000 after purchasing an additional 962 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Espey Mfg. & Electronics in the 3rd quarter valued at $67,000. Bridgeway Capital Management LLC bought a new position in shares of Espey Mfg. & Electronics in the 2nd quarter valued at $211,000. JPMorgan Chase & Co. raised its holdings in shares of Espey Mfg. & Electronics by 56,588.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock worth $202,000 after buying an additional 5,093 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in shares of Espey Mfg. & Electronics during the 4th quarter worth $267,000. 36.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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