Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Director Sells $168,019.50 in Stock

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Director Paul Corr sold 2,550 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $65.89, for a total transaction of $168,019.50. Following the transaction, the director owned 20,439 shares in the company, valued at approximately $1,346,725.71. The trade was a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN ESP opened at $67.12 on Friday. The company has a 50-day moving average price of $63.70 and a 200-day moving average price of $56.78. The stock has a market capitalization of $201.36 million, a P/E ratio of 17.71 and a beta of 0.36. Espey Mfg. & Electronics Corp. has a 1 year low of $36.00 and a 1 year high of $74.77.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly 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. The business had revenue of $11.42 million for the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%.

Espey Mfg. & Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 15th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 1.5%. Espey Mfg. & Electronics’s dividend payout ratio is 40.82%.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Hedge funds have recently modified their holdings of the company. Sage Investment Advisers LLC bought a new position in shares of Espey Mfg. & Electronics in the fourth quarter valued at approximately $680,000. Ritholtz Wealth Management lifted its holdings in Espey Mfg. & Electronics by 98.1% during the fourth quarter. Ritholtz Wealth Management now owns 17,808 shares of the company’s stock worth $839,000 after acquiring an additional 8,817 shares during the period. Naples Global Advisors LLC lifted its holdings in Espey Mfg. & Electronics by 6.9% during the fourth quarter. Naples Global Advisors LLC now owns 14,441 shares of the company’s stock worth $681,000 after acquiring an additional 932 shares during the period. GC Wealth Management RIA LLC purchased a new position in Espey Mfg. & Electronics in the fourth quarter worth $267,000. Finally, GSA Capital Partners LLP grew its stake in Espey Mfg. & Electronics by 34.5% in the 3rd quarter. GSA Capital Partners LLP now owns 6,260 shares of the company’s stock valued at $248,000 after purchasing an additional 1,604 shares during the period. Institutional investors own 36.65% of the company’s stock.

Analyst Ratings Changes

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