Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Lowered to Hold Rating by Freedom Capital

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) was downgraded by stock analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Espey Mfg. & Electronics Trading Down 10.4%

Shares of ESP stock opened at $60.19 on Monday. The firm has a 50-day moving average price of $62.20 and a 200 day moving average price of $52.63. Espey Mfg. & Electronics has a twelve month low of $34.90 and a twelve month high of $74.77. The company has a market capitalization of $180.57 million, a price-to-earnings ratio of 15.88 and a beta of 0.44.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.11. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%. The firm had revenue of $11.42 million during the quarter, compared to the consensus estimate of $13.20 million.

Insider Activity

In related news, Director Paul J. Corr sold 2,400 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $57.90, for a total value of $138,960.00. Following the completion of the transaction, the director owned 20,439 shares of the company’s stock, valued at approximately $1,183,418.10. The trade was a 10.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael W. Wool sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $57.90, for a total transaction of $57,900.00. Following the transaction, the director directly owned 17,400 shares of the company’s stock, valued at approximately $1,007,460. This represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,642 shares of company stock valued at $327,412 in the last three months. 5.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Espey Mfg. & Electronics by 356.3% during the 2nd 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 period. BNP Paribas Financial Markets purchased a new position in shares of Espey Mfg. & Electronics during the 3rd quarter worth about $67,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 5,093 shares during the period. Bridgeway Capital Management LLC purchased a new position in shares of Espey Mfg. & Electronics during the 2nd quarter worth about $211,000. Finally, Man Group plc purchased a new position in shares of Espey Mfg. & Electronics during the 3rd quarter worth about $226,000. 36.65% of the stock is currently owned by hedge funds and other institutional investors.

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.