Jennifer Michele Pickering Sells 2,500 Shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) insider Jennifer Michele Pickering sold 2,500 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $63.00, for a total value of $157,500.00. Following the completion of the sale, the insider directly owned 2,500 shares in the company, valued at $157,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Espey Mfg. & Electronics Stock Down 3.3%

NYSEAMERICAN:ESP opened at $63.81 on Thursday. The company has a market capitalization of $191.43 million, a PE ratio of 16.84 and a beta of 0.36. Espey Mfg. & Electronics Corp. has a 52-week low of $36.00 and a 52-week high of $74.77. The stock has a fifty day simple moving average of $63.56 and a 200-day simple moving average of $56.54.

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

Espey Mfg. & Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were given 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 presently 40.82%.

Analyst Ratings Changes

Separately, Freedom Capital lowered 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, According to data from MarketBeat.com, Espey Mfg. & Electronics presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Espey Mfg. & Electronics by 356.3% in the second quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock worth $56,000 after acquiring an additional 962 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Espey Mfg. & Electronics during the third quarter valued at $67,000. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 5,093 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $211,000. Finally, Man Group plc acquired a new position in Espey Mfg. & Electronics in the 3rd quarter valued at about $226,000. 36.65% of the stock is owned by institutional investors and hedge funds.

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.