Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Large Increase in Short Interest

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 9,500 shares, an increase of 131.7% from the February 29th total of 4,100 shares. Based on an average daily volume of 12,700 shares, the short-interest ratio is presently 0.7 days. Currently, 0.6% of the shares of the company are short sold.

Espey Mfg. & Electronics Price Performance

Espey Mfg. & Electronics stock traded up $0.17 during mid-day trading on Friday, reaching $25.25. 3,834 shares of the company were exchanged, compared to its average volume of 12,275. The firm has a market cap of $68.43 million, a PE ratio of 13.50 and a beta of 0.18. Espey Mfg. & Electronics has a 12 month low of $14.69 and a 12 month high of $27.32.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Monday, February 12th. The company reported $0.72 earnings per share for the quarter. The firm had revenue of $10.30 million for the quarter. Espey Mfg. & Electronics had a return on equity of 12.78% and a net margin of 12.57%.

Espey Mfg. & Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, March 21st. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.15. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is currently 37.43%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Espey Mfg. & Electronics from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 19th.

Insider Transactions at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.38, for a total transaction of $152,280.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 16.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Large investors have recently modified their holdings of the business. Perritt Capital Management Inc. acquired a new stake in shares of Espey Mfg. & Electronics during the 4th quarter valued at $62,000. BlackRock Inc. boosted its holdings in shares of Espey Mfg. & Electronics by 19.6% during the 2nd quarter. BlackRock Inc. now owns 4,973 shares of the company’s stock valued at $83,000 after acquiring an additional 815 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Espey Mfg. & Electronics by 10.2% during the 3rd quarter. Royal Bank of Canada now owns 9,690 shares of the company’s stock valued at $134,000 after acquiring an additional 900 shares in the last quarter. Secure Asset Management LLC acquired a new stake in shares of Espey Mfg. & Electronics during the 3rd quarter valued at $192,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter valued at $217,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.