Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $59.25 and traded as low as $56.70. Espey Mfg. & Electronics shares last traded at $58.14, with a volume of 43,869 shares traded.

Analyst Upgrades and Downgrades

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

Espey Mfg. & Electronics Stock Up 2.8%

The firm has a market capitalization of $175.20 million, a PE ratio of 15.41 and a beta of 0.34. The stock has a 50-day simple moving average of $59.89 and a 200-day simple moving average of $59.33.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.99 EPS for the quarter, beating 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 firm had revenue of $11.42 million for the quarter, compared to analysts’ expectations of $13.20 million.

Espey Mfg. & Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 15th were given 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 1.7%. Espey Mfg. & Electronics’s payout ratio is 40.82%.

Insider Buying and Selling at Espey Mfg. & Electronics

In related news, insider Jennifer Michele Pickering sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $63.00, for a total transaction of $157,500.00. Following the sale, the insider directly owned 2,500 shares in the company, valued at approximately $157,500. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl Helmetag sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director directly owned 23,169 shares of the company’s stock, valued at approximately $1,474,938.54. This trade represents a 4.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,100 shares of company stock worth $727,674. 5.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of Espey Mfg. & Electronics by 27.4% during the 2nd quarter. American Century Companies Inc. now owns 11,234 shares of the company’s stock valued at $514,000 after purchasing an additional 2,415 shares during the period. Marshall Wace LLP purchased a new position in Espey Mfg. & Electronics during the 2nd quarter valued at about $591,000. Bank of America Corp DE grew its holdings 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 buying an additional 962 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the second quarter valued at about $211,000. Finally, Osaic Holdings Inc. increased its position in shares of Espey Mfg. & Electronics by 25.4% during the second quarter. Osaic Holdings Inc. now owns 8,654 shares of the company’s stock valued at $396,000 after buying an additional 1,754 shares during the period. 36.65% of the stock is currently owned by hedge funds and other institutional investors.

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.