Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $62.09 and traded as low as $53.61. Espey Mfg. & Electronics shares last traded at $54.18, with a volume of 13,563 shares changing hands.

Espey Mfg. & Electronics Stock Up 1.5%

The stock’s fifty day simple moving average is $61.72 and its two-hundred day simple moving average is $62.05. The firm has a market cap of $158.14 million, a PE ratio of 13.37 and a beta of 0.37.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings results on Wednesday, September 23rd. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.19. The firm had revenue of $13.47 million during the quarter, compared to the consensus estimate of $14.80 million. Espey Mfg. & Electronics had a return on equity of 20.22% and a net margin of 24.24%.

Espey Mfg. & Electronics Announces Dividend

The business also recently disclosed a special dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 18th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 18th. Espey Mfg. & Electronics’s dividend payout ratio is 40.82%.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, Director Paul J. Corr sold 2,089 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $65.67, for a total transaction of $137,184.63. Following the completion of the sale, the director directly owned 20,650 shares in the company, valued at $1,356,085.50. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESP. Deutsche Bank AG bought a new position in Espey Mfg. & Electronics in the 2nd quarter worth $156,000. Lazard Asset Management LLC bought a new stake in shares of Espey Mfg. & Electronics in the first quarter worth about $331,000. Man Group plc purchased a new position in Espey Mfg. & Electronics during the 2nd quarter valued at approximately $832,000. Bank of New York Mellon Corp purchased a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter worth approximately $1,349,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Espey Mfg. & Electronics by 35.2% in the first quarter. Ritholtz Wealth Management now owns 24,085 shares of the company’s stock valued at $1,335,000 after purchasing an additional 6,277 shares in the last quarter. 36.65% of the stock is owned by hedge funds and other institutional investors.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp. designs and manufactures electronic systems and subsystems primarily for defense and other specialized applications. The company is based in Saratoga Springs, New York, and has a long history of supporting customers that require rugged, reliable equipment for demanding operating environments.

Its product offerings include power conversion and power-management equipment, power supplies, power distribution systems, electronic assemblies, displays, and related control and monitoring systems.