Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Significant Drop in Short Interest

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 4,159 shares, a decrease of 12.6% from the February 12th total of 4,759 shares. Based on an average trading volume of 24,603 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 24,603 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Freedom Capital raised Espey Mfg. & Electronics to a “strong-buy” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of “Strong Buy”.

Espey Mfg. & Electronics Stock Down 4.3%

Shares of NYSEAMERICAN ESP opened at $55.49 on Tuesday. The business’s 50 day moving average price is $54.71 and its 200 day moving average price is $46.31. The firm has a market cap of $164.25 million, a P/E ratio of 16.18 and a beta of 0.15. Espey Mfg. & Electronics has a 52 week low of $24.85 and a 52 week high of $62.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.23. Espey Mfg. & Electronics had a net margin of 23.37% and a return on equity of 19.09%. The company had revenue of $12.14 million for the quarter, compared to the consensus estimate of $12.40 million.

Espey Mfg. & Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.82%.

Insider Activity at Espey Mfg. & Electronics

In other Espey Mfg. & Electronics news, Director Michael W. Wool sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $57.90, for a total value of $57,900.00. Following the completion of the transaction, the director owned 17,400 shares of the company’s stock, valued at approximately $1,007,460. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul J. Corr sold 2,400 shares of Espey Mfg. & Electronics stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $57.90, for a total transaction of $138,960.00. Following the sale, the director owned 20,439 shares of the company’s stock, valued at $1,183,418.10. The trade was a 10.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,498 shares of company stock valued at $906,252 in the last three months. 5.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESP. XTX Topco Ltd boosted its holdings in 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 purchasing an additional 660 shares during the last quarter. Man Group plc raised its stake in shares of Espey Mfg. & Electronics by 14.4% during the 4th quarter. Man Group plc now owns 6,538 shares of the company’s stock valued at $308,000 after buying an additional 824 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Espey Mfg. & Electronics during the 4th quarter valued at about $217,000. Steel Partners Holdings L.P. acquired a new position in shares of Espey Mfg. & Electronics in the 4th quarter valued at about $784,000. Finally, First Trust Advisors LP lifted its holdings in shares of Espey Mfg. & Electronics by 6.3% in the 4th quarter. First Trust Advisors LP now owns 6,866 shares of the company’s stock valued at $324,000 after buying an additional 404 shares during the period. 36.65% of the stock is currently 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.