Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Shares Shorted: Short Interest Down 45.1% in October

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 38,951 shares, a decline of 45.1% from the September 30th total of 70,947 shares. Based on an average trading volume of 41,328 shares, the short-interest ratio is presently 0.9 days. Currently, 1.4% of the company’s shares are short sold.

Insider Activity

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 shares were sold at an average price of $65.67, for a total value of $137,184.63. Following the transaction, 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 the SEC website. Corporate insiders own 5.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ESP. BlackRock Inc. purchased a new position in shares of Espey Mfg. & Electronics during the second quarter worth approximately $7,808,000. Sei Investments Co. purchased a new position in Espey Mfg. & Electronics during the first quarter worth about $1,384,000. Bank of New York Mellon Corp acquired a new stake in shares of Espey Mfg. & Electronics in the 2nd quarter valued at approximately $1,349,000. De Lisle Partners LLP acquired a new stake in Espey Mfg. & Electronics in the second quarter valued at $3,777,000. Finally, Man Group plc acquired a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at about $832,000. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Stock Down 4.2%

NYSEAMERICAN:ESP traded down $2.31 during trading hours on Friday, reaching $53.20. 23,258 shares of the stock were exchanged, compared to its average volume of 30,538. Espey Mfg. & Electronics has a twelve month low of $36.82 and a twelve month high of $74.77. The business has a 50-day moving average of $60.53 and a two-hundred day moving average of $60.05. The company has a market capitalization of $161.73 million, a price-to-earnings ratio of 13.68 and a beta of 0.37.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.19. The firm had revenue of $13.47 million for 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 firm also recently declared a special dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 18th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 18th. Espey Mfg. & Electronics’s payout ratio is 40.82%.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp. is a defense electronics company based in Saratoga Springs, New York. The company designs, develops and manufactures specialized electronic equipment primarily for military and aerospace applications.

Its products and capabilities include power supplies, power-conversion equipment, power distribution systems, electronic assemblies and related systems used in demanding defense platforms. Espey also provides engineering, manufacturing and integration services for customers requiring ruggedized electronics and customized power solutions.

Founded in 1928, Espey has supplied products to U.S.