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

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Carl Helmetag sold 1,000 shares of the company’s stock in a transaction dated 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 sale, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Espey Mfg. & Electronics Stock Performance

Espey Mfg. & Electronics stock traded down $1.25 during midday trading on Friday, hitting $64.81. 9,683 shares of the company’s stock were exchanged, compared to its average volume of 27,154. The company has a market cap of $194.42 million, a PE ratio of 17.10 and a beta of 0.36. The firm has a 50-day moving average of $63.65 and a two-hundred day moving average of $56.71. Espey Mfg. & Electronics Corp. has a 12 month low of $36.00 and a 12 month high of $74.77.

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

Espey Mfg. & Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a 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 institutional investors have recently added to or reduced their stakes in ESP. American Century Companies Inc. grew its stake in shares of 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 acquiring an additional 2,415 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Espey Mfg. & Electronics in the 2nd quarter valued at approximately $591,000. Bank of America Corp DE boosted 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 purchasing an additional 962 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in Espey Mfg. & Electronics during the 2nd quarter worth approximately $211,000. Finally, Osaic Holdings Inc. grew its position in 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 purchasing an additional 1,754 shares during the last quarter. Institutional investors and hedge funds own 36.65% of the company’s stock.

Analyst Ratings Changes

Separately, Freedom Capital lowered shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.