Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Upgraded at StockNews.com

StockNews.com upgraded shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) from a hold rating to a buy rating in a research report released on Sunday.

Espey Mfg. & Electronics Stock Performance

Shares of Espey Mfg. & Electronics stock opened at $28.86 on Friday. The firm has a market capitalization of $78.79 million, a price-to-earnings ratio of 15.03 and a beta of 0.14. Espey Mfg. & Electronics has a 52 week low of $14.69 and a 52 week high of $32.00.

Espey Mfg. & Electronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.47%. 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 dividend payout ratio is 52.08%.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Several hedge funds have recently made changes to their positions in ESP. Adirondack Trust Co. lifted its holdings in shares of Espey Mfg. & Electronics by 7.2% in the 1st quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock worth $161,000 after buying an additional 426 shares during the period. Perritt Capital Management Inc. lifted its holdings in shares of Espey Mfg. & Electronics by 66.7% in the 1st quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after buying an additional 2,201 shares during the period. Ellsworth Advisors LLC purchased a new stake in shares of Espey Mfg. & Electronics in the 2nd quarter worth $476,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Espey Mfg. & Electronics in the 2nd quarter worth $113,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Espey Mfg. & Electronics by 1.9% during 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 during the last quarter. 36.65% of the stock is currently owned by hedge funds and other institutional investors.

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.