Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Director Carl Helmetag Sells 1,000 Shares of Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Carl Helmetag sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director directly owned 23,169 shares of the company’s stock, valued at approximately $1,474,938.54. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Espey Mfg. & Electronics Trading Up 1.6%

Shares of NYSEAMERICAN ESP opened at $67.12 on Friday. Espey Mfg. & Electronics Corp. has a twelve month low of $36.00 and a twelve month high of $74.77. The stock has a 50 day moving average of $63.70 and a two-hundred day moving average of $56.78. The stock has a market cap of $201.36 million, a P/E ratio of 17.71 and a beta of 0.36.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $11.42 million for the quarter, compared to analyst estimates of $13.20 million.

Espey Mfg. & Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.82%.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Several institutional investors have recently bought and sold shares of the company. Sage Investment Advisers LLC purchased a new stake in shares of Espey Mfg. & Electronics in the fourth quarter valued at about $680,000. Ritholtz Wealth Management boosted its holdings in Espey Mfg. & Electronics by 98.1% in the 4th quarter. Ritholtz Wealth Management now owns 17,808 shares of the company’s stock valued at $839,000 after purchasing an additional 8,817 shares in the last quarter. GSA Capital Partners LLP increased its position in Espey Mfg. & Electronics by 34.5% during the 3rd quarter. GSA Capital Partners LLP now owns 6,260 shares of the company’s stock worth $248,000 after purchasing an additional 1,604 shares during the period. JPMorgan Chase & Co. raised its stake 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 buying an additional 5,093 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Espey Mfg. & Electronics in the 3rd quarter valued at approximately $67,000. 36.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Freedom Capital cut Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.