Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Significant Decrease in Short Interest

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 7,299 shares, a decline of 41.6% from the May 14th total of 12,505 shares. Based on an average daily volume of 54,644 shares, the short-interest ratio is presently 0.1 days. Currently, 0.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Espey Mfg. & Electronics Trading Up 1.3%

Shares of NYSEAMERICAN ESP traded up $0.77 during midday trading on Tuesday, reaching $60.52. The company’s stock had a trading volume of 45,381 shares, compared to its average volume of 30,232. The company has a 50 day moving average price of $63.01 and a 200 day moving average price of $55.55. Espey Mfg. & Electronics has a one year low of $36.00 and a one year high of $74.77. The company has a market cap of $181.56 million, a price-to-earnings ratio of 15.97 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 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. Espey Mfg. & Electronics had a return on equity of 20.38% and a net margin of 25.50%.The company had revenue of $11.42 million during the quarter, compared to the consensus estimate of $13.20 million.

Espey Mfg. & Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, June 15th. Espey Mfg. & Electronics’s dividend payout ratio is 40.82%.

Insider Buying and Selling

In related news, Director Paul J. Corr sold 2,257 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $66.27, for a total transaction of $149,571.39. Following the sale, the director owned 20,732 shares of the company’s stock, valued at $1,373,909.64. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently modified their holdings of ESP. Two Sigma Investments LP acquired a new stake in shares of Espey Mfg. & Electronics during the 3rd quarter valued at $1,047,000. Sei Investments Co. acquired a new stake in shares of Espey Mfg. & Electronics during the first quarter valued at approximately $1,384,000. Steel Partners Holdings L.P. acquired a new stake in shares of Espey Mfg. & Electronics during the fourth quarter valued at approximately $784,000. Sage Investment Advisers LLC acquired a new stake in shares of Espey Mfg. & Electronics during the fourth quarter valued at approximately $680,000. Finally, Marshall Wace LLP acquired a new stake in shares of Espey Mfg. & Electronics during the second quarter valued at approximately $591,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

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.