David Oneil Sells 2,500 Shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) CEO David Oneil sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $67.71, for a total transaction of $169,275.00. Following the completion of the transaction, the chief executive officer owned 13,750 shares of the company’s stock, valued at approximately $931,012.50. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Espey Mfg. & Electronics Trading Down 3.3%

ESP stock opened at $63.81 on Thursday. The stock’s 50 day simple moving average is $63.56 and its 200 day simple moving average is $56.54. Espey Mfg. & Electronics Corp. has a 12-month low of $36.00 and a 12-month high of $74.77. The stock has a market capitalization of $191.43 million, a PE ratio of 16.84 and a beta of 0.36.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its earnings results on Tuesday, May 12th. The company reported $0.99 EPS for the quarter, topping 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 business had revenue of $11.42 million during the quarter, compared to analyst estimates of $13.20 million.

Espey Mfg. & Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 15th. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Hedge funds have recently added to or reduced their stakes in the stock. Sage Investment Advisers LLC purchased a new position in shares of Espey Mfg. & Electronics in the 4th quarter worth $680,000. Ritholtz Wealth Management grew its holdings in shares of Espey Mfg. & Electronics by 98.1% in the fourth quarter. Ritholtz Wealth Management now owns 17,808 shares of the company’s stock worth $839,000 after acquiring an additional 8,817 shares during the period. GSA Capital Partners LLP increased its position in Espey Mfg. & Electronics by 34.5% during the third quarter. GSA Capital Partners LLP now owns 6,260 shares of the company’s stock valued at $248,000 after acquiring an additional 1,604 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Espey Mfg. & Electronics by 11.0% in the third quarter. Hillsdale Investment Management Inc. now owns 8,100 shares of the company’s stock valued at $321,000 after acquiring an additional 800 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Espey Mfg. & Electronics in the third quarter valued at about $67,000. 36.65% of the stock is currently owned by hedge funds and other institutional investors.

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, May 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

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.