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

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 4,159 shares, a decrease of 12.6% from the February 12th total of 4,759 shares. Based on an average daily volume of 24,603 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 24,603 shares, the short-interest ratio is presently 0.2 days.

Espey Mfg. & Electronics Stock Down 4.3%

ESP opened at $55.49 on Tuesday. The business has a fifty day moving average of $54.71 and a 200 day moving average of $46.31. Espey Mfg. & Electronics has a 52-week low of $24.85 and a 52-week high of $62.15. The stock has a market cap of $164.25 million, a P/E ratio of 16.18 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.76 by $0.23. The company had revenue of $12.14 million for the quarter, compared to the consensus estimate of $12.40 million. Espey Mfg. & Electronics had a net margin of 23.37% and a return on equity of 19.09%.

Espey Mfg. & Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, March 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Espey Mfg. & Electronics’s dividend payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

Separately, Freedom Capital upgraded shares of Espey Mfg. & Electronics to a “strong-buy” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Espey Mfg. & Electronics presently has an average rating of “Strong Buy”.

Insider Activity

In related news, CEO David A. Oneil sold 8,856 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $50.00, for a total transaction of $442,800.00. Following the sale, the chief executive officer owned 16,250 shares in the company, valued at approximately $812,500. This represents a 35.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Wool sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $57.90, for a total value of $57,900.00. Following the completion of the sale, the director owned 17,400 shares of the company’s stock, valued at approximately $1,007,460. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,498 shares of company stock valued at $906,252 in the last ninety days. Insiders own 5.54% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Espey Mfg. & Electronics by 356.3% during 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 position in Espey Mfg. & Electronics during the 3rd quarter worth $67,000. JPMorgan Chase & Co. grew its stake in Espey Mfg. & Electronics by 56,588.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock worth $202,000 after buying an additional 5,093 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in Espey Mfg. & Electronics during the 2nd quarter valued at about $211,000. Finally, Man Group plc acquired a new position in Espey Mfg. & Electronics during the 3rd quarter valued at about $226,000. 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.