Paul Corr Sells 2,550 Shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Paul Corr sold 2,550 shares of the company’s stock in a transaction 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 sale, the director owned 20,439 shares of the company’s stock, valued at $1,346,725.71. The trade was a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Espey Mfg. & Electronics Stock Up 4.8%

Shares of Espey Mfg. & Electronics stock traded up $3.06 during trading on Thursday, reaching $66.87. 5,471 shares of the company were exchanged, compared to its average volume of 27,073. The business has a 50-day moving average price of $63.56 and a 200-day moving average price of $56.54. The firm has a market capitalization of $200.61 million, a price-to-earnings ratio of 17.64 and a beta of 0.36. Espey Mfg. & Electronics Corp. has a twelve month low of $36.00 and a twelve month high of $74.77.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. The firm had revenue of $11.42 million for the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a return on equity of 20.38% and a net margin of 25.50%.

Espey Mfg. & Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were issued a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 1.5%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is 40.82%.

Analyst Upgrades and Downgrades

Separately, Freedom Capital downgraded 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, According to MarketBeat, Espey Mfg. & Electronics has a consensus rating of “Hold”.

Institutional Trading of Espey Mfg. & Electronics

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

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.