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

Shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) passed above its 50 day moving average during trading on Monday . The stock has a 50 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 trading hands.

Analyst Ratings Changes

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

Espey Mfg. & Electronics Price Performance

The firm’s fifty day moving average is $63.56 and its 200 day moving average is $56.54. The firm has a market capitalization of $191.43 million, a price-to-earnings ratio of 16.84 and a beta of 0.36.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its earnings results on Tuesday, May 12th. The company reported $0.99 EPS 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 company had revenue of $11.42 million during the quarter, compared to the consensus estimate of $13.20 million.

Espey Mfg. & Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Espey Mfg. & Electronics’s payout ratio is currently 40.82%.

Insider Activity

In other Espey Mfg. & Electronics news, insider Jennifer Michele Pickering 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 $63.00, for a total value of $157,500.00. Following the sale, the insider directly owned 2,500 shares in the company, valued at $157,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul J. Corr sold 2,257 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $66.27, for a total transaction of $149,571.39. Following the sale, the director directly owned 20,732 shares in the company, valued at $1,373,909.64. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 7,550 shares of company stock worth $495,995. Company insiders own 5.54% of the company’s stock.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Several large investors have recently made changes to their positions in ESP. Sage Investment Advisers LLC acquired a new position in shares of Espey Mfg. & Electronics in the fourth quarter valued at approximately $680,000. Ritholtz Wealth Management increased its stake in Espey Mfg. & Electronics by 98.1% during the 4th quarter. Ritholtz Wealth Management now owns 17,808 shares of the company’s stock worth $839,000 after acquiring an additional 8,817 shares during the period. Sei Investments Co. bought a new position in shares of Espey Mfg. & Electronics in the first quarter worth $1,384,000. De Lisle Partners LLP increased its holdings in Espey Mfg. & Electronics by 9.4% in the 4th quarter. De Lisle Partners LLP now owns 56,247 shares of the company’s stock valued at $2,664,000 after buying an additional 4,822 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Espey Mfg. & Electronics in the third quarter valued at approximately $67,000. Institutional investors and hedge funds 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.