Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) posted its quarterly earnings data on Tuesday. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.11, FiscalAI reports. The business had revenue of $11.42 million during the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a net margin of 23.37% and a return on equity of 19.09%.

Espey Mfg. & Electronics Trading Up 2.0%

ESP stock traded up $1.39 during trading hours on Tuesday, hitting $72.22. 42,473 shares of the stock traded hands, compared to its average volume of 22,221. The company has a market cap of $213.77 million, a P/E ratio of 21.06 and a beta of 0.44. Espey Mfg. & Electronics has a one year low of $31.50 and a one year high of $73.50. The stock has a 50-day simple moving average of $61.15 and a 200 day simple moving average of $51.58.

Espey Mfg. & Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.00 annualized dividend and a yield of 1.4%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analysts Forecast Growth

Separately, Freedom Capital upgraded shares of Espey Mfg. & Electronics to a “strong-buy” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, Director Paul J. Corr sold 2,400 shares of Espey Mfg. & Electronics stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $57.90, for a total value of $138,960.00. Following the transaction, the director owned 20,439 shares in the company, valued at approximately $1,183,418.10. The trade was a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David A. Oneil sold 8,856 shares of Espey Mfg. & Electronics stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $50.00, for a total transaction of $442,800.00. Following the completion of the transaction, the chief executive officer owned 16,250 shares in the company, valued at approximately $812,500. This trade represents a 35.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,498 shares of company stock worth $770,212. 5.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ESP. Bank of America Corp DE grew its position in Espey Mfg. & Electronics by 356.3% in the second quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock worth $56,000 after buying an additional 962 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Espey Mfg. & Electronics in the 3rd quarter worth approximately $67,000. JPMorgan Chase & Co. boosted its stake in Espey Mfg. & Electronics by 56,588.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock worth $202,000 after purchasing an additional 5,093 shares during the period. Bridgeway Capital Management LLC acquired a new position in Espey Mfg. & Electronics in the 2nd quarter worth approximately $211,000. Finally, Man Group plc acquired a new position in Espey Mfg. & Electronics in the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

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.