Paul Corr Sells 2,550 Shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Paul Corr sold 2,550 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $65.89, for a total transaction of $168,019.50. Following the completion of the transaction, the director directly owned 20,439 shares of the company’s stock, valued at approximately $1,346,725.71. This represents a 11.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Espey Mfg. & Electronics Stock Performance

Espey Mfg. & Electronics stock opened at $67.12 on Friday. Espey Mfg. & Electronics Corp. has a fifty-two week low of $36.00 and a fifty-two week high of $74.77. The stock has a market cap of $201.36 million, a P/E ratio of 17.71 and a beta of 0.36. The firm’s fifty day moving average price is $63.70 and its 200-day moving average price is $56.78.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last released 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. The business had revenue of $11.42 million for 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 Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 15th. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is presently 40.82%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Espey Mfg. & Electronics

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in shares of Espey Mfg. & Electronics by 27.4% during the second quarter. American Century Companies Inc. now owns 11,234 shares of the company’s stock valued at $514,000 after acquiring an additional 2,415 shares in the last quarter. Marshall Wace LLP bought a new stake in Espey Mfg. & Electronics in the second quarter valued at $591,000. Bank of America Corp DE increased its position in Espey Mfg. & Electronics by 356.3% during the 2nd quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock valued at $56,000 after purchasing an additional 962 shares during the period. Bridgeway Capital Management LLC bought a new position in Espey Mfg. & Electronics in the 2nd quarter worth $211,000. Finally, Osaic Holdings Inc. lifted its position in shares of Espey Mfg. & Electronics by 25.4% in the 2nd quarter. Osaic Holdings Inc. now owns 8,654 shares of the company’s stock worth $396,000 after purchasing an additional 1,754 shares during the period. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

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.