Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Espey Mfg. & Electronics Trading Down 1.7 %

NYSEAMERICAN:ESP opened at $29.63 on Thursday. Espey Mfg. & Electronics has a twelve month low of $16.50 and a twelve month high of $33.00. The company has a market cap of $82.67 million, a price-to-earnings ratio of 12.04 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its quarterly earnings results on Friday, September 27th. The company reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $11.61 million for the quarter. Espey Mfg. & Electronics had a net margin of 15.56% and a return on equity of 15.95%.

Espey Mfg. & Electronics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, September 20th. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. Espey Mfg. & Electronics’s payout ratio is 40.65%.

Insider Activity

In related news, insider Peggy A. Murphy sold 1,353 shares of Espey Mfg. & Electronics stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $29.50, for a total transaction of $39,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.78% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors have recently made changes to their positions in the company. Ellsworth Advisors LLC boosted its position in shares of Espey Mfg. & Electronics by 6.9% in the third quarter. Ellsworth Advisors LLC now owns 23,977 shares of the company’s stock valued at $721,000 after acquiring an additional 1,555 shares during the period. Dimensional Fund Advisors LP raised its stake in Espey Mfg. & Electronics by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,591 shares in the last quarter. Perritt Capital Management Inc. boosted its holdings in Espey Mfg. & Electronics by 66.7% in the 1st quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock valued at $139,000 after purchasing an additional 2,201 shares during the period. De Lisle Partners LLP grew its position in shares of Espey Mfg. & Electronics by 7.5% during the 3rd quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock worth $1,298,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Espey Mfg. & Electronics by 3.7% during the second quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock worth $2,370,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.