Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Update

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 9,500 shares, an increase of 131.7% from the February 29th total of 4,100 shares. Based on an average daily volume of 12,700 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.6% of the shares of the stock are sold short.

Espey Mfg. & Electronics Trading Up 0.7 %

Shares of NYSEAMERICAN ESP traded up $0.17 during trading hours on Thursday, reaching $25.25. 3,834 shares of the stock traded hands, compared to its average volume of 13,127. The stock has a market cap of $68.43 million, a price-to-earnings ratio of 13.41 and a beta of 0.18. Espey Mfg. & Electronics has a 52-week low of $14.69 and a 52-week high of $27.32.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.72 EPS for the quarter. Espey Mfg. & Electronics had a return on equity of 12.78% and a net margin of 12.57%. The business had revenue of $10.30 million for the quarter.

Espey Mfg. & Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, March 21st. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 2.77%. Espey Mfg. & Electronics’s payout ratio is 37.43%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Espey Mfg. & Electronics from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 19th.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $25.38, for a total value of $152,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Several hedge funds have recently made changes to their positions in ESP. Perritt Capital Management Inc. bought a new stake in shares of Espey Mfg. & Electronics during the fourth quarter valued at approximately $62,000. BlackRock Inc. boosted its position in shares of Espey Mfg. & Electronics by 26.5% during the first quarter. BlackRock Inc. now owns 4,158 shares of the company’s stock valued at $84,000 after purchasing an additional 872 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Espey Mfg. & Electronics by 10.2% during the third quarter. Royal Bank of Canada now owns 9,690 shares of the company’s stock valued at $134,000 after purchasing an additional 900 shares in the last quarter. Secure Asset Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the third quarter valued at approximately $192,000. Finally, Geode Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the second quarter valued at approximately $217,000. 36.65% of the stock is owned by hedge funds and other institutional investors.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.