Insider Selling: Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Director Sells 2,257 Shares of Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Paul Corr sold 2,257 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $66.27, for a total transaction of $149,571.39. Following the transaction, the director owned 20,732 shares of the company’s stock, valued at approximately $1,373,909.64. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Espey Mfg. & Electronics Trading Up 0.1%

Shares of NYSEAMERICAN:ESP traded up $0.09 during midday trading on Tuesday, reaching $60.28. 76,325 shares of the company were exchanged, compared to its average volume of 40,811. The business’s fifty day moving average is $62.27 and its two-hundred day moving average is $52.78. Espey Mfg. & Electronics Corp. has a one year low of $34.90 and a one year high of $74.77. The stock has a market cap of $180.84 million, a PE ratio of 15.91 and a beta of 0.44.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $11.42 million during the quarter, compared to analyst estimates of $13.20 million.

Espey Mfg. & Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Espey Mfg. & Electronics’s dividend payout ratio is currently 40.82%.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in shares of Espey Mfg. & Electronics by 6.3% in the fourth quarter. First Trust Advisors LP now owns 6,866 shares of the company’s stock valued at $324,000 after acquiring an additional 404 shares during the period. XTX Topco Ltd raised its stake in shares of Espey Mfg. & Electronics by 12.7% in the fourth quarter. XTX Topco Ltd now owns 5,871 shares of the company’s stock valued at $277,000 after acquiring an additional 660 shares during the period. Geode Capital Management LLC raised its stake in shares of Espey Mfg. & Electronics by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,692 shares of the company’s stock valued at $1,165,000 after acquiring an additional 745 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Espey Mfg. & Electronics by 11.0% in the third quarter. Hillsdale Investment Management Inc. now owns 8,100 shares of the company’s stock valued at $321,000 after acquiring an additional 800 shares during the period. Finally, Man Group plc raised its stake in shares of Espey Mfg. & Electronics by 14.4% in the fourth quarter. Man Group plc now owns 6,538 shares of the company’s stock valued at $308,000 after acquiring an additional 824 shares during the period. Institutional investors own 36.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Freedom Capital lowered shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday. 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 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.