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

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

Espey Mfg. & Electronics Stock Performance

NYSEAMERICAN:ESP opened at $67.12 on Friday. The stock’s 50-day simple moving average is $63.70 and its 200 day simple moving average is $56.78. The company has a market cap of $201.36 million, a P/E ratio of 17.71 and a beta of 0.36. Espey Mfg. & Electronics Corp. has a 52-week low of $36.00 and a 52-week high of $74.77.

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

Espey Mfg. & Electronics Dividend Announcement

The business also recently disclosed 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 annualized dividend 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

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in shares of Espey Mfg. & Electronics by 356.3% in the second quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock valued at $56,000 after buying an additional 962 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Espey Mfg. & Electronics in the 3rd quarter valued at $67,000. Bridgeway Capital Management LLC bought a new stake in Espey Mfg. & Electronics in the 2nd quarter valued at $211,000. JPMorgan Chase & Co. lifted its holdings in Espey Mfg. & Electronics by 56,588.9% during 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, GC Wealth Management RIA LLC bought a new position in Espey Mfg. & Electronics during the fourth quarter worth $267,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Freedom Capital lowered shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Espey Mfg. & Electronics currently has a consensus rating of “Hold”.

Espey Mfg. & Electronics Company Profile

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.