Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP)’s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $62.82 and traded as high as $63.58. Espey Mfg. & Electronics shares last traded at $61.91, with a volume of 45,100 shares changing hands.

Espey Mfg. & Electronics Price Performance

The stock has a 50-day moving average price of $62.90 and a 200-day moving average price of $61.99. The firm has a market capitalization of $184.86 million, a PE ratio of 15.63 and a beta of 0.37.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Wednesday, September 23rd. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. The company had revenue of $13.47 million for the quarter, compared to analyst estimates of $14.80 million. Espey Mfg. & Electronics had a return on equity of 20.22% and a net margin of 24.24%.

Espey Mfg. & Electronics Announces Dividend

The company also recently disclosed a special dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 18th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 18th. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.82%.

Insider Activity

In related news, Director Paul J. Corr sold 2,089 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $65.67, for a total transaction of $137,184.63. Following the sale, the director directly owned 20,650 shares of the company’s stock, valued at approximately $1,356,085.50. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.54% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Espey Mfg. & Electronics in the 2nd quarter worth approximately $7,808,000. De Lisle Partners LLP lifted its holdings in Espey Mfg. & Electronics by 9.4% in the fourth quarter. De Lisle Partners LLP now owns 56,247 shares of the company’s stock worth $2,664,000 after purchasing an additional 4,822 shares during the period. Sei Investments Co. bought a new position in shares of Espey Mfg. & Electronics in the first quarter valued at approximately $1,384,000. Ritholtz Wealth Management boosted its stake in Espey Mfg. & Electronics by 35.2% during the 1st quarter. Ritholtz Wealth Management now owns 24,085 shares of the company’s stock valued at $1,335,000 after purchasing an additional 6,277 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Espey Mfg. & Electronics during the second quarter valued at about $1,349,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

About Espey Mfg. & Electronics

Espey Mfg. & Electronics Corp. designs and manufactures electronic systems and subsystems primarily for defense and other specialized applications. The company is based in Saratoga Springs, New York, and has a long history of supporting customers that require rugged, reliable equipment for demanding operating environments.

Its product offerings include power conversion and power-management equipment, power supplies, power distribution systems, electronic assemblies, displays, and related control and monitoring systems.