Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Issues Earnings Results, Beats Estimates By $0.11 EPS

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) posted its quarterly earnings data on Tuesday. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11, FiscalAI reports. Espey Mfg. & Electronics had a net margin of 23.37% and a return on equity of 19.09%. The firm had revenue of $11.42 million during the quarter, compared to analyst estimates of $13.20 million.

Espey Mfg. & Electronics Stock Up 2.0%

Shares of NYSEAMERICAN:ESP traded up $1.39 during trading on Tuesday, reaching $72.22. 42,473 shares of the company traded hands, compared to its average volume of 22,221. The firm has a fifty day simple moving average of $61.15 and a 200 day simple moving average of $51.58. The firm has a market cap of $213.77 million, a P/E ratio of 21.06 and a beta of 0.44. Espey Mfg. & Electronics has a 1-year low of $31.50 and a 1-year high of $73.50.

Espey Mfg. & Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is 40.82%.

Insider Buying and Selling at Espey Mfg. & Electronics

In other Espey Mfg. & Electronics news, CEO David A. Oneil sold 8,856 shares of Espey Mfg. & Electronics stock in a transaction on Friday, February 13th. The shares were sold at an average price of $50.00, for a total transaction of $442,800.00. Following the completion of the sale, the chief executive officer owned 16,250 shares of the company’s stock, valued at $812,500. This trade represents a 35.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael W. Wool sold 1,000 shares of Espey Mfg. & Electronics stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $57.90, for a total transaction of $57,900.00. Following the sale, the director directly owned 17,400 shares of the company’s stock, valued at $1,007,460. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,498 shares of company stock valued at $770,212 in the last quarter. Company insiders own 5.54% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Espey Mfg. & Electronics by 356.3% in the 2nd quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock valued at $56,000 after purchasing an additional 962 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Espey Mfg. & Electronics in the 3rd quarter valued at $67,000. Bridgeway Capital Management LLC acquired a new stake in shares of Espey Mfg. & Electronics in the 4th quarter valued at $217,000. JPMorgan Chase & Co. lifted its stake in shares of Espey Mfg. & Electronics by 56,588.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock valued at $202,000 after purchasing an additional 5,093 shares during the last quarter. Finally, Man Group plc acquired a new stake in shares of Espey Mfg. & Electronics in the 3rd quarter valued at $226,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Freedom Capital raised shares of Espey Mfg. & Electronics to a “strong-buy” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

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.