Sei Investments Co. Buys New Stake in Espey Mfg. & Electronics Corp. $ESP

Sei Investments Co. bought a new stake in shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,968 shares of the company’s stock, valued at approximately $1,384,000. Sei Investments Co. owned approximately 0.84% of Espey Mfg. & Electronics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ESP. Two Sigma Investments LP bought a new stake in shares of Espey Mfg. & Electronics during the third quarter valued at about $1,047,000. Steel Partners Holdings L.P. bought a new position in Espey Mfg. & Electronics in the 4th quarter valued at about $784,000. Sage Investment Advisers LLC bought a new position in Espey Mfg. & Electronics in the 4th quarter valued at about $680,000. Marshall Wace LLP bought a new position in Espey Mfg. & Electronics in the 2nd quarter valued at about $591,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Espey Mfg. & Electronics by 74.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 26,923 shares of the company’s stock valued at $1,269,000 after buying an additional 11,453 shares during the period. Institutional investors own 36.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

Espey Mfg. & Electronics Stock Performance

ESP opened at $63.79 on Wednesday. The company has a market capitalization of $191.37 million, a PE ratio of 16.83 and a beta of 0.35. The stock’s fifty day moving average is $60.43 and its 200-day moving average is $59.99. Espey Mfg. & Electronics Corp. has a one year low of $36.00 and a one year high of $74.77.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share 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 business 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 declared 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 of this dividend was Monday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Espey Mfg. & Electronics’s dividend payout ratio is currently 40.82%.

Insider Buying and Selling

In other news, CEO David A. Oneil sold 2,500 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $67.71, for a total transaction of $169,275.00. Following the completion of the sale, the chief executive officer directly owned 13,750 shares of the company’s stock, valued at $931,012.50. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carl Helmetag sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 23,169 shares of the company’s stock, valued at $1,474,938.54. This represents a 4.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,100 shares of company stock worth $727,674 over the last quarter. 5.54% of the stock is currently owned by insiders.

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.