Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Update

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 7,299 shares, a decline of 41.6% from the May 14th total of 12,505 shares. Based on an average daily volume of 54,644 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN:ESP opened at $60.52 on Wednesday. Espey Mfg. & Electronics has a fifty-two week low of $36.00 and a fifty-two week high of $74.77. The business has a 50-day moving average of $63.01 and a two-hundred day moving average of $55.55. The stock has a market capitalization of $181.56 million, a P/E ratio of 15.97 and a beta of 0.36.

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, topping analysts’ consensus estimates of $0.88 by $0.11. Espey Mfg. & Electronics had a return on equity of 20.38% and a net margin of 25.50%.The company had revenue of $11.42 million during the quarter, compared to analysts’ expectations of $13.20 million.

Espey Mfg. & Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Espey Mfg. & Electronics’s payout ratio is currently 40.82%.

Insider Buying and Selling

In other Espey Mfg. & Electronics news, Director Paul J. Corr sold 2,257 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $66.27, for a total value of $149,571.39. Following the transaction, the director owned 20,732 shares in the company, valued at $1,373,909.64. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.54% of the stock is owned by company insiders.

Institutional Trading of Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC acquired a new position in shares of Espey Mfg. & Electronics during the 1st quarter worth about $331,000. Sei Investments Co. acquired a new position in shares of Espey Mfg. & Electronics during the 1st quarter worth about $1,384,000. Ritholtz Wealth Management lifted its position in shares of Espey Mfg. & Electronics by 35.2% during the 1st quarter. Ritholtz Wealth Management now owns 24,085 shares of the company’s stock worth $1,335,000 after purchasing an additional 6,277 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Espey Mfg. & Electronics by 12.7% during the 4th quarter. XTX Topco Ltd now owns 5,871 shares of the company’s stock worth $277,000 after purchasing an additional 660 shares during the last quarter. Finally, Man Group plc lifted its position in shares of Espey Mfg. & Electronics by 14.4% during the 4th quarter. Man Group plc now owns 6,538 shares of the company’s stock worth $308,000 after purchasing an additional 824 shares during the last quarter. Institutional investors and hedge funds own 36.65% of the company’s stock.

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.