Paul Corr Sells 2,257 Shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Paul Corr sold 2,257 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $66.27, for a total transaction of $149,571.39. Following the sale, the director directly owned 20,732 shares of the company’s stock, valued at approximately $1,373,909.64. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Espey Mfg. & Electronics Trading Up 0.1%

ESP stock traded up $0.09 during midday trading on Tuesday, reaching $60.28. 76,325 shares of the company’s stock traded hands, compared to its average volume of 40,811. Espey Mfg. & Electronics Corp. has a 52-week low of $34.90 and a 52-week high of $74.77. The stock has a market cap of $180.84 million, a P/E ratio of 15.91 and a beta of 0.44. The stock’s 50-day moving average is $62.27 and its 200 day moving average is $52.78.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Tuesday, May 12th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%. The business had revenue of $11.42 million during the quarter, compared to analysts’ expectations of $13.20 million.

Espey Mfg. & Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, March 20th. Espey Mfg. & Electronics’s dividend payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

Separately, Freedom Capital cut shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Trading of Espey Mfg. & Electronics

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Espey Mfg. & Electronics by 356.3% in 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Espey Mfg. & Electronics in the third quarter worth $67,000. JPMorgan Chase & Co. increased its stake in shares of Espey Mfg. & Electronics by 56,588.9% in the third quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock worth $202,000 after purchasing an additional 5,093 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Espey Mfg. & Electronics in the second quarter worth $211,000. Finally, Man Group plc purchased a new stake in shares of Espey Mfg. & Electronics in the third quarter worth $226,000. 36.65% of the stock is owned by hedge funds and other institutional investors.

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.