Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Director Sells 1,000 Shares

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Carl Helmetag sold 1,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director owned 23,169 shares in the company, valued at $1,474,938.54. The trade was a 4.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Espey Mfg. & Electronics Stock Down 1.9%

ESP traded down $1.25 during trading on Friday, reaching $64.81. The company had a trading volume of 9,683 shares, compared to its average volume of 27,154. The business has a 50 day simple moving average of $63.65 and a 200-day simple moving average of $56.71. The stock has a market cap of $194.42 million, a P/E ratio of 17.10 and a beta of 0.36. 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 announced its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.11. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%. The business had revenue of $11.42 million for the quarter, compared to the consensus estimate of $13.20 million.

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%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Espey Mfg. & Electronics by 356.3% in 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 in the last quarter. BNP Paribas Financial Markets bought a new position in Espey Mfg. & Electronics in the third quarter worth approximately $67,000. JPMorgan Chase & Co. grew its stake in 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. Bridgeway Capital Management LLC purchased a new position in Espey Mfg. & Electronics during the 2nd quarter worth $211,000. Finally, Man Group plc bought a new stake in Espey Mfg. & Electronics during the 3rd quarter valued at $226,000. Hedge funds and other 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.