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

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Paul Corr sold 2,550 shares of Espey Mfg. & Electronics stock in a transaction 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 sale, the director owned 20,439 shares in the company, valued at $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 hyperlink.

Espey Mfg. & Electronics Stock Up 4.8%

Espey Mfg. & Electronics stock traded up $3.06 on Thursday, hitting $66.87. The company’s stock had a trading volume of 5,471 shares, compared to its average volume of 27,073. Espey Mfg. & Electronics Corp. has a one year low of $36.00 and a one year high of $74.77. The firm has a market cap of $200.61 million, a P/E ratio of 17.64 and a beta of 0.36. The company has a fifty day moving average price of $63.56 and a 200-day moving average price of $56.54.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share 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 net margin of 25.50% and a return on equity of 20.38%.

Espey Mfg. & Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.82%.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its stake 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 during the period. Marshall Wace LLP acquired a new position in Espey Mfg. & Electronics during the 2nd quarter valued at about $591,000. Bank of America Corp DE lifted 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 shares of Espey Mfg. & Electronics in the 2nd quarter valued at about $211,000. Finally, Osaic Holdings Inc. boosted its stake 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 valued at $396,000 after purchasing an additional 1,754 shares during the last quarter. 36.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.