Espey Mfg. & Electronics (NYSEAMERICAN:ESP) CEO Sells $169,275.00 in 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 shares were sold at an average price of $67.71, for a total value of $169,275.00. Following the transaction, the chief executive officer directly owned 13,750 shares in the company, valued at approximately $931,012.50. This represents a 15.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Espey Mfg. & Electronics Stock Up 3.5%

Shares of ESP opened at $66.06 on Friday. The company has a market cap of $198.18 million, a PE ratio of 17.43 and a beta of 0.36. The business has a fifty day moving average of $63.65 and a 200 day moving average of $56.71. Espey Mfg. & Electronics Corp. has a 52-week low of $36.00 and a 52-week high of $74.77.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its quarterly earnings data 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. Espey Mfg. & Electronics’s payout ratio is 40.82%.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Several large investors have recently added to or reduced their stakes in ESP. First Trust Advisors LP boosted its holdings in shares of Espey Mfg. & Electronics by 6.3% in the fourth quarter. First Trust Advisors LP now owns 6,866 shares of the company’s stock valued at $324,000 after purchasing an additional 404 shares during the period. XTX Topco Ltd increased its holdings in Espey Mfg. & Electronics by 12.7% during the 4th quarter. XTX Topco Ltd now owns 5,871 shares of the company’s stock worth $277,000 after purchasing an additional 660 shares during the period. Geode Capital Management LLC raised its position in Espey Mfg. & Electronics by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,692 shares of the company’s stock valued at $1,165,000 after purchasing an additional 745 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Espey Mfg. & Electronics by 11.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 8,100 shares of the company’s stock valued at $321,000 after purchasing an additional 800 shares in the last quarter. Finally, Man Group plc lifted its holdings in shares of Espey Mfg. & Electronics by 14.4% in the 4th quarter. Man Group plc now owns 6,538 shares of the company’s stock worth $308,000 after buying an additional 824 shares during the period. 36.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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