Short Interest in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Expands By 592.7%

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 85,081 shares, an increase of 592.7% from the June 15th total of 12,283 shares. Based on an average daily trading volume, of 67,186 shares, the short-interest ratio is presently 1.3 days. Currently, 3.0% of the company’s shares are sold short.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Carl Helmetag sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director directly owned 23,169 shares of the company’s stock, valued at $1,474,938.54. This represents a 4.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Corr sold 2,550 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $65.89, for a total transaction of $168,019.50. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,100 shares of company stock valued at $727,674 over the last 90 days. 5.54% of the stock is owned by corporate insiders.

Institutional Trading of Espey Mfg. & Electronics

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted 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 worth $56,000 after acquiring an additional 962 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Espey Mfg. & Electronics in the third quarter valued at approximately $67,000. Bridgeway Capital Management LLC acquired a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at approximately $211,000. JPMorgan Chase & Co. lifted its position in shares of Espey Mfg. & Electronics by 56,588.9% in the third quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock worth $202,000 after purchasing an additional 5,093 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new stake in shares of Espey Mfg. & Electronics in the fourth quarter worth $267,000. 36.65% of the stock is currently owned by institutional investors.

Espey Mfg. & Electronics Price Performance

ESP traded down $4.09 during trading on Monday, reaching $55.83. The company had a trading volume of 49,260 shares, compared to its average volume of 30,706. The company has a market cap of $167.49 million, a P/E ratio of 14.80 and a beta of 0.34. Espey Mfg. & Electronics has a 12 month low of $36.00 and a 12 month high of $74.77. The business’s fifty day moving average price is $62.56 and its 200 day moving average price is $58.30.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. The company had revenue of $11.42 million during the quarter, compared to the consensus estimate 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 company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is currently 40.82%.

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.