Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $63.37 and traded as high as $69.97. Espey Mfg. & Electronics shares last traded at $67.10, with a volume of 112,406 shares traded.

Analyst Ratings Changes

Separately, Freedom Capital lowered shares of 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 data from MarketBeat, the company has a consensus rating of “Hold”.

Espey Mfg. & Electronics Stock Up 10.1%

The stock has a fifty day moving average of $63.37 and a 200-day moving average of $56.20. The firm has a market capitalization of $201.30 million, a P/E ratio of 17.70 and a beta of 0.36.

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

Espey Mfg. & Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.5%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is 40.82%.

Insider Activity

In other news, Director Paul J. Corr sold 2,257 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $66.27, for a total value of $149,571.39. Following the sale, the director owned 20,732 shares of the company’s stock, valued at $1,373,909.64. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ESP. Bank of America Corp DE increased 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 valued at $56,000 after buying an additional 962 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Espey Mfg. & Electronics during the 3rd quarter worth about $67,000. Bridgeway Capital Management LLC acquired a new position in shares of Espey Mfg. & Electronics during the 2nd quarter worth about $211,000. JPMorgan Chase & Co. boosted its stake in shares of Espey Mfg. & Electronics by 56,588.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock worth $202,000 after buying an additional 5,093 shares during the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in shares of Espey Mfg. & Electronics in the 4th quarter valued at about $267,000. Institutional investors 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.